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Cross Country Healthcare (CCRN) shares ended the last trading session 7.1% higher at $19.09. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.3% gain over the past four weeks.
The rise in share prices is attributable to the company's digital transformation and operational efficiency, which have been enabling it to cater to the continuously increasing demand for its services. Increase in demand for healthcare staffing and investments in headcount and technology is positively impacting the company’s business. The recent acquisition of Selected strengthens Cross Country Healthcare’s education business.
This provider of health care staffing and workforce management services is expected to post quarterly earnings of $1.35 per share in its upcoming report, which represents a year-over-year change of +187.2%. Revenues are expected to be $741.9 million, up 123.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cross Country, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CCRN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cross Country is part of the Zacks Staffing Firms industry. Heidrick & Struggles (HSII), another stock in the same industry, closed the last trading session 1.7% higher at $29.72. HSII has returned -6.3% in the past month.
For Heidrick & Struggles , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.98. This represents a change of -14% from what the company reported a year ago. Heidrick & Struggles currently has a Zacks Rank of #3 (Hold).
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