Maximus, Inc. (MMS) Expected to Post Quarterly Sales of $623.47 Million
Wall Street brokerages predict that Maximus, Inc. (NYSE:MMS) will announce $623.47 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Maximus’ earnings. The highest sales estimate is $638.95 million and the lowest is $608.00 million. Maximus posted sales of $607.56 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.6%. The firm is scheduled to report its next earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Maximus will report full-year sales of $623.47 million for the current fiscal year, with estimates ranging from $2.49 billion to $2.50 billion. For the next year, analysts anticipate that the firm will report sales of $2.67 billion per share, with estimates ranging from $2.66 billion to $2.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Maximus.
A number of analysts recently weighed in on MMS shares. Zacks Investment Research raised shares of Maximus from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Wednesday, October 4th. Canaccord Genuity lowered their price target on shares of Maximus from $62.00 to $61.00 and set a “hold” rating for the company in a report on Friday. Maxim Group set a $66.00 price target on shares of Maximus and gave the company a “hold” rating in a report on Thursday, August 3rd. Robert W. Baird reissued a “hold” rating and issued a $64.00 price target on shares of Maximus in a report on Friday, September 1st. Finally, BidaskClub lowered shares of Maximus from a “hold” rating to a “sell” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.00.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Tuesday, November 14th. Maximus’s dividend payout ratio is presently 5.66%.
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In other Maximus news, Director Raymond B. Ruddy sold 25,000 shares of Maximus stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $65.12, for a total transaction of $1,628,000.00. Following the completion of the sale, the director now owns 226,652 shares of the company’s stock, valued at approximately $14,759,578.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David Francis sold 3,900 shares of Maximus stock in a transaction on Monday, November 13th. The stock was sold at an average price of $63.97, for a total transaction of $249,483.00. Following the sale, the general counsel now directly owns 15,090 shares of the company’s stock, valued at approximately $965,307.30. The disclosure for this sale can be found here. Insiders have sold a total of 137,103 shares of company stock valued at $8,503,210 in the last ninety days. Company insiders own 3.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Maximus by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,669,026 shares of the health services provider’s stock valued at $355,052,000 after buying an additional 130,839 shares during the period. FMR LLC grew its holdings in shares of Maximus by 10.4% in the 2nd quarter. FMR LLC now owns 4,658,584 shares of the health services provider’s stock valued at $291,767,000 after buying an additional 438,025 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Maximus by 13.3% in the 3rd quarter. Victory Capital Management Inc. now owns 3,514,228 shares of the health services provider’s stock valued at $226,667,000 after buying an additional 413,325 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Maximus by 718.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,211,638 shares of the health services provider’s stock valued at $138,515,000 after buying an additional 1,941,521 shares during the period. Finally, State Street Corp grew its holdings in shares of Maximus by 3.5% in the 2nd quarter. State Street Corp now owns 2,138,049 shares of the health services provider’s stock valued at $133,906,000 after buying an additional 71,823 shares during the period. 97.55% of the stock is owned by institutional investors.
Maximus Company Profile
MAXIMUS, Inc provides business process services (BPS) to government health and human services agencies. The Company operates through three segments: U.S. Federal Services, Health Services and Human Services. The U.S. Federal Services segment provides BPS and program management for large government programs, independent health review and appeals services for both the United States Federal Government, and state-based programs and technology solutions for civilian federal programs.
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