Brokerages Expect Magellan Health, Inc. (NASDAQ:MGLN) to Post $0.42 Earnings Per Share

Brokerages expect that Magellan Health, Inc. (NASDAQ:MGLN) will report $0.42 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Magellan Health’s earnings. Magellan Health posted earnings of ($0.38) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 210.5%. The firm is scheduled to announce its next quarterly earnings report on Friday, February 25th.

According to Zacks, analysts expect that Magellan Health will report full year earnings of $2.02 per share for the current financial year, with EPS estimates ranging from $1.88 to $2.15. For the next fiscal year, analysts forecast that the company will report earnings of $3.41 per share, with EPS estimates ranging from $3.10 to $3.72. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Magellan Health.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings results on Friday, November 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.34). The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Magellan Health had a net margin of 6.26% and a return on equity of 1.81%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 EPS.

Separately, Zacks Investment Research downgraded Magellan Health from a “hold” rating to a “strong sell” rating and set a $80.00 price objective on the stock. in a research report on Wednesday, October 6th.

MGLN stock traded down $0.23 during trading on Thursday, reaching $94.60. 34,201 shares of the company traded hands, compared to its average volume of 248,519. Magellan Health has a 12 month low of $76.83 and a 12 month high of $99.36. The business has a 50 day simple moving average of $94.72 and a 200 day simple moving average of $94.53. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 8.25 and a beta of 1.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.86 and a current ratio of 2.92.

A number of hedge funds have recently modified their holdings of MGLN. Eagle Bay Advisors LLC bought a new stake in Magellan Health during the second quarter valued at about $47,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Magellan Health in the first quarter worth about $73,000. Meeder Asset Management Inc. boosted its holdings in Magellan Health by 623.5% in the third quarter. Meeder Asset Management Inc. now owns 1,172 shares of the company’s stock worth $111,000 after acquiring an additional 1,010 shares in the last quarter. Royal Bank of Canada boosted its holdings in Magellan Health by 33.8% in the second quarter. Royal Bank of Canada now owns 1,727 shares of the company’s stock worth $163,000 after acquiring an additional 436 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Magellan Health by 4,790.0% in the first quarter. Captrust Financial Advisors now owns 1,956 shares of the company’s stock worth $182,000 after acquiring an additional 1,916 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Magellan Health Company Profile

Magellan Health, Inc engages in the business of healthcare management. It operates through the following segments: Healthcare, Pharmacy Management and Corporate. The Healthcare segment includes the Behavioral & Specialty Health reporting unit, which provides carve-out management services for behavioral health, employee assistance plans, and other areas of specialty healthcare.

Recommended Story: What does cost of debt say about a company’s financial health?

Get a free copy of the Zacks research report on Magellan Health (MGLN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Magellan Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Health and related companies with MarketBeat.com's FREE daily email newsletter.