MAXIMUS, Inc. (MMS) Expected to Post Quarterly Sales of $594.06 Million
Equities research analysts expect MAXIMUS, Inc. (NYSE:MMS) to report sales of $594.06 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for MAXIMUS’s earnings. The lowest sales estimate is $586.20 million and the highest is $602.79 million. MAXIMUS posted sales of $620.90 million during the same quarter last year, which suggests a negative year over year growth rate of 4.3%. The company is expected to issue its next quarterly earnings report on Thursday, November 8th.
On average, analysts expect that MAXIMUS will report full-year sales of $2.43 billion for the current year, with estimates ranging from $2.42 billion to $2.44 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.45 billion, with estimates ranging from $2.44 billion to $2.47 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow MAXIMUS.
MAXIMUS (NYSE:MMS) last released its quarterly earnings data on Thursday, August 9th. The health services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.09. The company had revenue of $597.90 million for the quarter, compared to the consensus estimate of $591.91 million. MAXIMUS had a return on equity of 21.51% and a net margin of 9.28%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS.
In related news, Vice Chairman Richard A. Montoni sold 44,002 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $64.99, for a total transaction of $2,859,689.98. Following the sale, the insider now directly owns 493,476 shares in the company, valued at approximately $32,071,005.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Paul R. Lederer sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $64.05, for a total value of $480,375.00. Following the sale, the director now owns 62,535 shares in the company, valued at $4,005,366.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,722 shares of company stock worth $4,788,284. Company insiders own 2.48% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Ostrum Asset Management purchased a new stake in shares of MAXIMUS during the 1st quarter valued at about $109,000. Bruderman Asset Management LLC purchased a new stake in shares of MAXIMUS during the 2nd quarter valued at about $119,000. Fort L.P. purchased a new stake in shares of MAXIMUS during the 2nd quarter valued at about $120,000. We Are One Seven LLC raised its holdings in shares of MAXIMUS by 241.3% during the 1st quarter. We Are One Seven LLC now owns 2,017 shares of the health services provider’s stock valued at $135,000 after buying an additional 1,426 shares during the period. Finally, Violich Capital Management Inc. purchased a new stake in shares of MAXIMUS during the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 93.43% of the company’s stock.
Shares of MAXIMUS stock traded up $0.38 during trading hours on Friday, reaching $62.17. The stock had a trading volume of 377,052 shares, compared to its average volume of 395,996. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 2.51 and a beta of 1.12. MAXIMUS has a 1 year low of $60.27 and a 1 year high of $72.71.
MAXIMUS announced that its Board of Directors has approved a stock repurchase plan on Monday, June 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the health services provider to purchase up to 4.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
MAXIMUS Company Profile
MAXIMUS, Inc provides business process services (BPS) to government health and human services programs in the United States, the United Kingdom, Australia, Canada, Singapore, and Saudi Arabia. The company's Health Services segment offers various BPS, appeals, and assessments, as well as related consulting services for state, provincial, and national government programs comprising Medicaid, Children's Health Insurance Program, the Affordable Care Act, Health Insurance British Columbia, the Health Assessment Advisory Service, and Preadmission Screening and Resident Reviews.
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