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Strength Seen in Cross Country (CCRN): Can Its 8.1% Jump Turn into More Strength?

Cross Country Healthcare (CCRN) shares ended the last trading session 8.1% higher at $28.75. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 24% gain over the past four weeks.

The stock is benefiting from the company’s digital transformation and operational efficiency, which have been enabling it to cater to the continuously increasing demand for its services.

 

This provider of health care staffing and workforce management services is expected to post quarterly earnings of $0.91 per share in its upcoming report, which represents a year-over-year change of +49.2%. Revenues are expected to be $610.72 million, up 62.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Cross Country, the consensus EPS estimate for the quarter has been revised 0.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CCRN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Cross Country is part of the Zacks Staffing Firms industry. ManpowerGroup (MAN), another stock in the same industry, closed the last trading session 1.3% lower at $71.98. MAN has returned -11.6% in the past month.

For Manpower , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.22. This represents a change of +15% from what the company reported a year ago. Manpower currently has a Zacks Rank of #3 (Hold).


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Cross Country Healthcare, Inc. (CCRN) : Free Stock Analysis Report
 
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