Magellan Health (MGLN) Releases FY19 Earnings Guidance

Magellan Health (NASDAQ:MGLN) issued an update on its FY19 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $3.70-4.69 for the period, compared to the Thomson Reuters consensus estimate of $4.50. The company issued revenue guidance of $7.2-7.5 billion, compared to the consensus revenue estimate of $7.11 billion.Magellan Health also updated its FY 2019 guidance to $3.70-4.69 EPS.

MGLN traded up $1.52 on Friday, reaching $57.01. The company had a trading volume of 6,999 shares, compared to its average volume of 375,676. The company has a market capitalization of $1.34 billion, a P/E ratio of 10.36, a P/E/G ratio of 1.53 and a beta of 0.47. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 1.67. Magellan Health has a 52-week low of $51.88 and a 52-week high of $112.25.

Magellan Health (NASDAQ:MGLN) last announced its earnings results on Wednesday, November 7th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.28. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. Magellan Health had a net margin of 1.49% and a return on equity of 10.93%. Magellan Health’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the firm posted $1.64 earnings per share. On average, equities analysts anticipate that Magellan Health will post 3.61 earnings per share for the current year.

MGLN has been the topic of a number of recent analyst reports. TheStreet downgraded shares of Magellan Health from a b- rating to a c+ rating in a research note on Friday, November 9th. ValuEngine raised shares of Magellan Health from a strong sell rating to a sell rating in a research note on Wednesday, November 28th. Zacks Investment Research downgraded shares of Magellan Health from a hold rating to a sell rating in a research note on Saturday, October 13th. Leerink Swann downgraded shares of Magellan Health from an outperform rating to a market perform rating and lowered their target price for the company from $90.00 to $70.00 in a research note on Tuesday, November 13th. Finally, BidaskClub downgraded shares of Magellan Health from a strong-buy rating to a buy rating in a research note on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $83.33.

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About Magellan Health

Magellan Health, Inc provides healthcare management services in the United States. It operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine for health plans, care organizations, and employers.

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Earnings History and Estimates for Magellan Health (NASDAQ:MGLN)

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