Healthcare services company The Ensign Group (NASDAQ: ENSG). will be reporting results this Thursday after the bell. Here’s what investors should know.
The Ensign Group met analysts’ revenue expectations last quarter, reporting revenues of $1.17 billion, up 16.1% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ sales volume estimates.
Is The Ensign Group a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting The Ensign Group’s revenue to grow 17.7% year on year to $1.22 billion, improving from the 12.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.55 per share.
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 has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 0.6% on average.
Looking at The Ensign Group’s peers in the healthcare providers & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Tenet Healthcare delivered year-on-year revenue growth of 3.3%, beating analysts’ expectations by 2.3%, and Quest reported revenues up 15.2%, topping estimates by 1.4%.
Read our full analysis of Tenet Healthcare’s results here and Quest’s results here.
Investors in the healthcare providers & services segment have had steady hands going into earnings, with share prices flat over the last month. The Ensign Group is down 8.7% during the same time and is heading into earnings with an average analyst price target of $166 (compared to the current share price of $138.93).
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