KeyCorp Has Positive View of Addus HomeCare FY2024 Earnings

Addus HomeCare Co. (NASDAQ:ADUS) – Research analysts at KeyCorp raised their FY2024 earnings per share estimates for Addus HomeCare in a note issued to investors on Monday, January 6th. KeyCorp analyst M. Gillmor now expects that the company will earn $4.52 per share for the year, up from their previous estimate of $4.50. KeyCorp has a “Strong-Buy” rating on the stock. The consensus estimate for Addus HomeCare’s current full-year earnings is $4.59 per share. KeyCorp also issued estimates for Addus HomeCare’s Q1 2025 earnings at $1.14 EPS, Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $1.34 EPS, Q4 2025 earnings at $1.47 EPS and FY2025 earnings at $5.26 EPS.

Addus HomeCare (NASDAQ:ADUS) last released its quarterly earnings data on Monday, November 4th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.02. The firm had revenue of $289.80 million during the quarter, compared to analysts’ expectations of $289.42 million. Addus HomeCare had a return on equity of 9.62% and a net margin of 6.50%. Addus HomeCare’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share.

Other analysts have also issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and issued a $136.00 target price on shares of Addus HomeCare in a report on Thursday, November 14th. StockNews.com raised Addus HomeCare from a “hold” rating to a “buy” rating in a report on Wednesday, December 11th. Oppenheimer upped their target price on Addus HomeCare from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Macquarie reissued an “outperform” rating and issued a $139.00 target price on shares of Addus HomeCare in a report on Monday, November 4th. Finally, Stephens upped their target price on Addus HomeCare from $143.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $133.67.

Addus HomeCare Stock Performance

Addus HomeCare stock opened at $125.34 on Thursday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00. Addus HomeCare has a fifty-two week low of $85.94 and a fifty-two week high of $136.12. The stock’s fifty day moving average is $125.04 and its two-hundred day moving average is $125.95.

Hedge Funds Weigh In On Addus HomeCare

A number of large investors have recently modified their holdings of ADUS. Quarry LP purchased a new stake in shares of Addus HomeCare during the 3rd quarter valued at about $28,000. Quest Partners LLC purchased a new stake in shares of Addus HomeCare during the 2nd quarter valued at about $31,000. Farther Finance Advisors LLC raised its holdings in shares of Addus HomeCare by 9,150.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 370 shares of the company’s stock valued at $49,000 after buying an additional 366 shares during the period. Sandia Investment Management LP purchased a new stake in shares of Addus HomeCare during the 2nd quarter valued at about $58,000. Finally, GAMMA Investing LLC raised its holdings in shares of Addus HomeCare by 25.7% during the 3rd quarter. GAMMA Investing LLC now owns 935 shares of the company’s stock valued at $124,000 after buying an additional 191 shares during the period. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Roberton James Stevenson sold 2,250 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.00, for a total value of $272,250.00. Following the transaction, the executive vice president now directly owns 10,217 shares in the company, valued at $1,236,257. This trade represents a 18.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R Dirk Allison sold 25,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $124.76, for a total value of $3,119,000.00. Following the completion of the transaction, the chief executive officer now owns 79,397 shares in the company, valued at approximately $9,905,569.72. This trade represents a 23.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,750 shares of company stock worth $4,930,750. 4.60% of the stock is owned by company insiders.

About Addus HomeCare

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.