Cantor Fitzgerald analyst Joseph France reiterated a Buy rating on Genesis Healthcare (NYSE: GEN) today and set a price target of $7. The company’s shares opened today at $1.59.
France wrote:
“Updating 2018-2019 outlook. Our updated outlook reflects the company’s continued restructuring, cost cutting and the implementation of new revenue recognition accounting rules. We are lowering our 2018 revenue estimate to $5.1 billion from $5.2 billion, but bumping our adjusted EBITDA estimate to $483 million from $479 million. GEN has reduced annual fixed charges by $62 million, but we believe there could be further reductions in overhead costs and lease restructuring, but primarily with smaller landlords in 2H18. Our 2019 estimates include revenue of $5.1 billion and adjusted EBITDA of $501 million.”
According to TipRanks.com, France is a 4-star analyst with an average return of 9.9% and a 56.5% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and Envision Healthcare.
Genesis Healthcare has an analyst consensus of Moderate Buy, with a price target consensus of $3.67.
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Based on Genesis Healthcare’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $68.54 million. In comparison, last year the company had a GAAP net loss of $50.76 million.
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Genesis Healthcare, Inc. is a holding company, which engages in the provision of inpatient services through skilled nursing and assisted and senior living facilities. It also offers rehabilitation and respiratory therapy services. It operates through the following segments: Inpatient, Rehabilitation Therapy, and Other Services.
