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Will Cross Country Healthcare (CCRN) Beat on Q2 Earnings?

Zacks Equity Research

Cross Country Healthcare, Inc. CCRN will report second-quarter 2019 results on Jul 31, after the bell.

In the first quarter, the company delivered a positive earnings surprise of 166.7%. It has a trailing four-quarter average positive surprise of 4.2%.

We observe that the company's shares have gained 29.8% year to date, outperforming the 21.3% rally of the industry it belongs to.

How Things are Shaping Up

The Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $199.5 million, indicating year-over-year decline of 2.5%. The expected decline is likely to be due to lower volumes across all three segments. The consensus estimate indicates a respective 1.1%, 14.5% and 7.9% year-over-year decline for Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services segments.

In the first quarter, Cross Country’s revenues of $195.2 million declined 7.2% year over year.

The company is expected to incur loss of a penny in the to-be-reported quarter on lower revenues and higher expenses. It incurred earnings of 5 cents per share in the first quarter of 2019.

What Our Model Says

According to the Zacks model, a company with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has a good chance of beating estimates if it also has a positive Earnings ESP. Zacks Rank #4 (Sell) or 5 (Strong Sell) stocks are best avoided, especially if they have a negative Earnings ESP. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Cross Country Healthcare has a Zacks Rank #2 and an Earnings ESP of 0.00%.

Stocks to Consider

Here are a few stocks from the broader Zacks Business Services sector that investors may consider as our model shows that these have the right combination of elements to beat on second-quarter 2019 earnings:

S&P Global SPGI has an Earnings ESP of +0.94% and a Zacks Rank #2.  The company is slated to report results on Aug 1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Clean Harbors CLH has an Earnings ESP of +3.23% and a Zacks Rank #3. The company is slated to report results on Jul 31.

Green Dot GDOT has an Earnings ESP of +0.89% and a Zacks Rank #3. The company is slated to release results on Aug 7.

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