Zacks: Brokerages Anticipate Civitas Solutions Inc (CIVI) Will Post Quarterly Sales of $390.04 Million

Wall Street brokerages expect Civitas Solutions Inc (NYSE:CIVI) to report $390.04 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Civitas Solutions’ earnings. The lowest sales estimate is $382.70 million and the highest is $397.39 million. Civitas Solutions posted sales of $359.39 million in the same quarter last year, which suggests a positive year over year growth rate of 8.5%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, February 8th.

On average, analysts expect that Civitas Solutions will report full year sales of $390.04 million for the current financial year, with estimates ranging from $1.58 billion to $1.60 billion. For the next year, analysts forecast that the firm will post sales of $1.67 billion per share, with estimates ranging from $1.66 billion to $1.68 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Civitas Solutions.

Civitas Solutions (NYSE:CIVI) last released its earnings results on Tuesday, December 12th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Civitas Solutions had a net margin of 0.43% and a return on equity of 16.25%.

Several equities research analysts have issued reports on CIVI shares. Canaccord Genuity reiterated a “buy” rating and set a $27.00 price objective on shares of Civitas Solutions in a research note on Wednesday, December 13th. SunTrust Banks set a $21.00 price objective on shares of Civitas Solutions and gave the stock a “buy” rating in a research note on Thursday, December 21st. Zacks Investment Research upgraded shares of Civitas Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Raymond James Financial upgraded shares of Civitas Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday. Finally, Citigroup upgraded shares of Civitas Solutions to an “outperform” rating and set a $21.00 price objective for the company in a research note on Friday. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $23.00.

In other news, insider Renzo Linda De sold 1,722 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $18.73, for a total transaction of $32,253.06. Following the transaction, the insider now directly owns 162,893 shares of the company’s stock, valued at $3,050,985.89. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Denis M. Holler sold 12,238 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $19.75, for a total transaction of $241,700.50. Following the transaction, the chief financial officer now directly owns 277,502 shares in the company, valued at $5,480,664.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,619 shares of company stock valued at $631,649. 5.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of Civitas Solutions during the third quarter worth $127,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Civitas Solutions during the third quarter worth $197,000. Parametric Portfolio Associates LLC acquired a new position in shares of Civitas Solutions during the second quarter worth $211,000. First Trust Advisors LP acquired a new position in shares of Civitas Solutions during the third quarter worth $223,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Civitas Solutions by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,822 shares of the company’s stock worth $242,000 after purchasing an additional 630 shares in the last quarter. 94.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of Civitas Solutions (NYSE CIVI) opened at $15.55 on Friday. The company has a debt-to-equity ratio of 3.83, a quick ratio of 1.19 and a current ratio of 1.19. Civitas Solutions has a 52 week low of $13.45 and a 52 week high of $19.95. The stock has a market cap of $583.86, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 2.01 and a beta of 0.42.

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Civitas Solutions Company Profile

Civitas Solutions, Inc is a provider of home- and community-based health and human services to individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. The Company operates through two segments: Human Services and Post-Acute Specialty Rehabilitation Services (SRS).

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Earnings History and Estimates for Civitas Solutions (NYSE:CIVI)

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