Oppenheimer analyst Michael Wiederhorn maintained a Buy rating on The Ensign Group (NASDAQ: ENSG) today and set a price target of $42. The company’s shares opened today at $36.10.
Wiederhorn commented:
“ENSG reported Q2:18 adjusted EPS of $0.44 (GAAP: $0.41), vs. OPCO/Street consensus of $0.44E/$0.43E. Adjusted results exclude $0.03 ($1.7M) including ~ $0.03 stock-based compensation and $0.02 of losses at start-ups, offset by $0.01 from hurricane recoveries (and rounding). Same-store revenues (pro forma) grew 4.2% y-y, driven by rates/mix (blended rates +4.1%). Following the quarter, ENSG maintained FY2018 EPS guidance, which previously stood at $1.80-1.87. Post-Q2, we are maintaining our FY2018 EPS estimate of $1.85, but tweaking our FY2019 estimate to $2.08 from $2.07 and our price target to $42 from $39.”
According to TipRanks.com, Wiederhorn is a top 100 analyst with an average return of 17.0% and a 71.8% success rate. Wiederhorn covers the Services sector, focusing on stocks such as Cross Country Healthcare, Addus Homecare Corp, and Envision Healthcare.
Currently, the analyst consensus on The Ensign Group is a Strong Buy with an average price target of $37.50, a 3.9% upside from current levels. In a report issued on July 30, Cantor Fitzgerald also maintained a Buy rating on the stock with a $42 price target.
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The Ensign Group’s market cap is currently $1.92B and has a P/E ratio of 32.48. The company has a Price to Book ratio of 3.70.
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The Ensign Group, Inc. engages in the provision of healthcare services, as well as urgent care centers and mobile ancillary businesses. It operates through the following segments: Transitional and Skilled Services, Assisted and Independent Living Services, and Home Health and Hospice Services.
