Wall Street analysts expect MAXIMUS, Inc. (NYSE:MMS) to announce sales of $594.06 million for the current quarter, according to Zacks. Four analysts have made estimates for MAXIMUS’s earnings. The highest sales estimate is $602.79 million and the lowest is $586.20 million. MAXIMUS reported sales of $620.90 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.3%. The business is expected to announce 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 fiscal year, with estimates ranging from $2.42 billion to $2.44 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.45 billion, with estimates ranging from $2.44 billion to $2.47 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for MAXIMUS.
MAXIMUS (NYSE:MMS) last announced its quarterly earnings results on Thursday, August 9th. The health services provider reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.09. The company had revenue of $597.90 million for the quarter, compared to analyst estimates of $591.91 million. MAXIMUS had a net margin of 9.28% and a return on equity of 21.51%. MAXIMUS’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS.
A number of equities analysts have weighed in on MMS shares. Zacks Investment Research upgraded shares of MAXIMUS from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Canaccord Genuity lifted their price target on shares of MAXIMUS from $64.00 to $67.00 and gave the company a “hold” rating in a report on Wednesday.
In related news, Vice Chairman Richard A. Montoni sold 15,000 shares of MAXIMUS stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $65.81, for a total transaction of $987,150.00. Following the transaction, the insider now owns 493,476 shares in the company, valued at approximately $32,475,655.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Russell A. Beliveau sold 1,000 shares of MAXIMUS stock in a transaction on Monday, October 1st. The shares were sold at an average price of $63.86, for a total transaction of $63,860.00. The disclosure for this sale can be found here. Insiders have sold a total of 73,722 shares of company stock worth $4,788,284 in the last 90 days. Company insiders own 2.48% of the company’s stock.
Several large investors have recently bought and sold shares of MMS. Wells Fargo & Company MN lifted its holdings in shares of MAXIMUS by 114.6% during the 1st quarter. Wells Fargo & Company MN now owns 230,006 shares of the health services provider’s stock valued at $15,349,000 after acquiring an additional 122,824 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in shares of MAXIMUS by 3.7% during the 1st quarter. Federated Investors Inc. PA now owns 27,377 shares of the health services provider’s stock valued at $1,827,000 after acquiring an additional 987 shares in the last quarter. JPMorgan Chase & Co. increased its stake in MAXIMUS by 51.7% during the 1st quarter. JPMorgan Chase & Co. now owns 154,193 shares of the health services provider’s stock worth $10,290,000 after buying an additional 52,576 shares during the period. New York State Common Retirement Fund increased its stake in MAXIMUS by 11.0% during the 1st quarter. New York State Common Retirement Fund now owns 82,150 shares of the health services provider’s stock worth $5,483,000 after buying an additional 8,140 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in MAXIMUS by 69.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 64,672 shares of the health services provider’s stock worth $4,316,000 after buying an additional 26,528 shares during the period. Institutional investors and hedge funds own 93.43% of the company’s stock.
Shares of MMS traded up $0.38 during mid-day trading on Friday, reaching $62.17. The company had a trading volume of 377,052 shares, compared to its average volume of 395,996. The firm has a market cap of $4.18 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.51 and a beta of 1.12. MAXIMUS has a fifty-two week low of $60.27 and a fifty-two week high of $72.71.
MAXIMUS declared that its board has authorized a stock buyback plan on Monday, June 25th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the health services provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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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