InnovAge (INNV) Scheduled to Post Quarterly Earnings on Tuesday

InnovAge (NASDAQ:INNV) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.04) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

InnovAge (NASDAQ:INNV) last posted its quarterly earnings results on Monday, February 5th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $188.90 million for the quarter, compared to the consensus estimate of $181.51 million. InnovAge had a negative net margin of 4.38% and a negative return on equity of 10.53%. During the same quarter in the previous year, the company earned ($0.07) earnings per share. On average, analysts expect InnovAge to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

InnovAge Price Performance

Shares of INNV stock traded up $0.08 during mid-day trading on Tuesday, reaching $3.80. The company’s stock had a trading volume of 18,700 shares, compared to its average volume of 24,531. The firm’s 50-day moving average is $4.48 and its two-hundred day moving average is $5.25. The company has a market cap of $516.42 million, a P/E ratio of -14.88 and a beta of 0.15. InnovAge has a 1-year low of $3.70 and a 1-year high of $8.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.27.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on INNV shares. JPMorgan Chase & Co. dropped their price objective on InnovAge from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. The Goldman Sachs Group cut their price target on shares of InnovAge from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, February 8th.

InnovAge Company Profile

InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities. The company manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. It also offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to the PACE center and third-party medical appointments; and care management.