Healthcare services company The Ensign Group (NASDAQ: ENSG). will be reporting earnings this Thursday after the bell. Here’s what to expect.
The Ensign Group missed analysts’ revenue expectations last quarter, reporting revenues of $1.43 billion, up 25.9% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates but a significant miss of analysts’ revenue estimates.
Is The Ensign Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting The Ensign Group’s revenue to grow 29.3% year on year, improving from the 16.1% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. The Ensign Group rarely misses Wall Street’s revenue estimates.
Looking at The Ensign Group’s peers in the healthcare providers & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Elevance Health delivered year-on-year revenue growth of 1.5%, beating analysts’ expectations by 2.4%, and UnitedHealth reported revenues up 2%, topping estimates by 1.7%. Elevance Health traded up 5.5% following the results while UnitedHealth was also up 9.3%.
Read our full analysis of Elevance Health’s results here and UnitedHealth’s results here.
There has been positive sentiment among investors in the healthcare providers & services segment, with share prices up 10.8% on average over the last month. The Ensign Group is down 5.9% during the same time and is heading into earnings with an average analyst price target of $220.40 (compared to the current share price of $188.50).
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