CCRN Intrinsic Value – Cross Country Healthcare Reports Q2 FY2023 Earnings Results on August 2nd
August 8, 2023
🌥️Earnings Overview
Cross Country Healthcare ($NASDAQ:CCRN) announced that their second quarter of FY2023 (ending June 30 2023) revenue amounted to $540.7 million, a 28.2% drop from the same quarter in the previous year. Net income for the period decreased by 59.7% to $21.3 million, compared to the same quarter in the prior year. The report was released on August 2 2023.
Stock Price
On Wednesday, August 2nd, Cross Country Healthcare (CROSS COUNTRY HEALTHCARE) reported its earnings results for the second quarter of FY2023. The stock opened at $25.6 and closed at $26.5, marking an increase of 2.7% from the previous closing price of $25.8. This was a major improvement compared to last year’s Q2 results, which fell short of market expectations. This dividend is unchanged from previous quarters and demonstrates the company’s commitment to delivering value to shareholders.
Overall, these Q2 FY2023 results showed that CROSS COUNTRY HEALTHCARE is continuing to deliver strong financial performance and rewards for shareholders. Investors remain optimistic about the future prospects of the company and look forward to further updates on future earnings results. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CCRN. More…
| Total Revenues | Net Income | Net Margin |
| 2.43k | 124.36 | 5.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CCRN. More…
| Operations | Investing | Financing |
| 311.06 | -47.52 | -263.14 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CCRN. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 771.13 | 300.78 | 13.32 |
Key Ratios Snapshot
Some of the financial key ratios for CCRN are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 41.8% | 160.2% | 7.4% |
| FCF Margin | ROE | ROA |
| 12.3% | 24.3% | 14.5% |
Analysis – CCRN Intrinsic Value
At GoodWhale, we conducted an analysis of CROSS COUNTRY HEALTHCARE’s wellbeing. Our proprietary Valuation Line calculated the intrinsic value of CROSS COUNTRY HEALTHCARE share to be around $27.5. This makes it an attractive investment opportunity for those looking to benefit from the potential upside of the stock. More…
Peers
The Company operates through three segments: Nurse and Allied Solutions, Physician Solutions, and Other Workforce Solutions. The Company provides its services to hospitals, physicians, government agencies, and other healthcare organizations. The Company has a network of over 3,500 locations across the United States. Cross Country Healthcare Inc’s competitors include Surgery Partners Inc, Medicover AB, and AMN Healthcare Services Inc.
– Surgery Partners Inc ($NASDAQ:SGRY)
As of 2022, Surgery Partners Inc has a market cap of 2.32B and a ROE of 26.22%. The company owns and operates surgical facilities and ancillary services in the United States.
– Medicover AB ($OTCPK:MCVEF)
As of 2022, Medicover AB has a market cap of 1.78B and a Return on Equity of 13.71%. The company is a leading provider of healthcare and diagnostic services in Europe.
– AMN Healthcare Services Inc ($NYSE:AMN)
The company’s market cap is 5.11B as of 2022 and has a ROE of 39.26%. The company is a provider of healthcare staffing and workforce solutions. The company operates in three segments: Staffing, Workforce Solutions, and Other. The Staffing segment provides temporary and permanent placement of physicians, nurse practitioners, and other healthcare professionals in a variety of settings, including hospitals, clinics, and other healthcare facilities. The Workforce Solutions segment provides workforce management solutions, including staffing, scheduling, and payrolling services to healthcare facilities. The Other segment includes the company’s travel nursing business and other miscellaneous businesses.
Summary
Investors in Cross Country Healthcare may be disappointed by the company’s second quarter of FY2023 financial results released on August 2, 2023. It is advisable for investors to closely monitor Cross Country Healthcare’s financial performance and corporate strategy changes before making any investment decisions.
