U.S. Physical Therapy (NYSE:USPH) Shares Gap Down on Disappointing Earnings

Shares of U.S. Physical Therapy, Inc. (NYSE:USPH – Get Rating) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $126.87, but opened at $102.99. U.S. Physical Therapy shares last traded at $99.78, with a volume of 860 shares trading hands.

The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.03). U.S. Physical Therapy had a net margin of 7.69% and a return on equity of 14.77%. The business had revenue of $140.70 million for the quarter, compared to the consensus estimate of $143.01 million. During the same quarter in the prior year, the business posted $0.96 earnings per share. U.S. Physical Therapy’s revenue for the quarter was up 10.9% on a year-over-year basis.

U.S. Physical Therapy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Thursday, August 18th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.78%. U.S. Physical Therapy’s dividend payout ratio is presently 56.94%.

Analysts Set New Price Targets

Separately, TheStreet upgraded shares of U.S. Physical Therapy from a “c+” rating to a “b-” rating in a research note on Thursday, July 28th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Institutional Investors Weigh In On U.S. Physical Therapy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. M&T Bank Corp lifted its position in U.S. Physical Therapy by 3.7% during the second quarter. M&T Bank Corp now owns 4,856 shares of the company’s stock valued at $530,000 after acquiring an additional 174 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in U.S. Physical Therapy by 21.4% during the second quarter. Los Angeles Capital Management LLC now owns 6,570 shares of the company’s stock valued at $717,000 after acquiring an additional 1,157 shares during the last quarter. Royce & Associates LP lifted its position in U.S. Physical Therapy by 5.0% during the second quarter. Royce & Associates LP now owns 45,067 shares of the company’s stock valued at $4,921,000 after acquiring an additional 2,156 shares during the last quarter. Aviva PLC lifted its position in U.S. Physical Therapy by 16.5% during the second quarter. Aviva PLC now owns 18,315 shares of the company’s stock valued at $2,000,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in U.S. Physical Therapy by 22.3% during the second quarter. Envestnet Asset Management Inc. now owns 89,647 shares of the company’s stock valued at $9,789,000 after acquiring an additional 16,328 shares during the last quarter. Hedge funds and other institutional investors own 99.13% of the company’s stock.

U.S. Physical Therapy Price Performance

The stock’s 50-day moving average is $114.70 and its 200 day moving average is $104.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $1.19 billion, a PE ratio of 31.92 and a beta of 1.22.

U.S. Physical Therapy Company Profile

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U.S. Physical Therapy, Inc, through its subsidiaries, operates outpatient physical therapy clinics that provide pre-and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and neurological-related injuries.