Performant Financial Corp (PFMT) Forecasted to Earn Q1 2019 Earnings of ($0.11) Per Share

Performant Financial Corp (NASDAQ:PFMT) – William Blair dropped their Q1 2019 earnings per share estimates for shares of Performant Financial in a research report issued to clients and investors on Wednesday, March 27th, Zacks Investment Research reports. William Blair analyst B. Hogan now forecasts that the business services provider will post earnings per share of ($0.11) for the quarter, down from their previous estimate of ($0.06). William Blair also issued estimates for Performant Financial’s Q2 2019 earnings at ($0.07) EPS, Q3 2019 earnings at ($0.05) EPS, FY2019 earnings at ($0.26) EPS and FY2020 earnings at ($0.05) EPS.

Performant Financial (NASDAQ:PFMT) last posted its quarterly earnings data on Tuesday, March 26th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $39.73 million for the quarter, compared to the consensus estimate of $34.10 million. Performant Financial had a negative net margin of 5.15% and a negative return on equity of 19.87%.

Separately, Zacks Investment Research raised shares of Performant Financial from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th.

Shares of PFMT traded down $0.01 on Monday, reaching $2.15. The company’s stock had a trading volume of 65,340 shares, compared to its average volume of 22,171. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.53. The company has a market cap of $114.81 million, a price-to-earnings ratio of -6.72 and a beta of 0.39. Performant Financial has a 12-month low of $1.25 and a 12-month high of $3.12.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan purchased a new position in Performant Financial during the fourth quarter worth $168,000. 22NW LP boosted its stake in Performant Financial by 7.8% during the fourth quarter. 22NW LP now owns 3,340,859 shares of the business services provider’s stock worth $7,517,000 after buying an additional 241,868 shares during the period. Finally, Prescott Group Capital Management L.L.C. boosted its stake in Performant Financial by 20.6% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 5,198,068 shares of the business services provider’s stock worth $11,696,000 after buying an additional 889,234 shares during the period. Institutional investors own 57.61% of the company’s stock.

About Performant Financial

Performant Financial Corporation provides technology-enabled audit, recovery, customer care, and related analytics services in the United States. The company offers recovery services primarily to the government-supported student loan industry, serving guaranty agencies, the Department of Education, and private financial institutions; and restructures and recovers student loans issued directly by banks to students outside of federal lending programs.

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Earnings History and Estimates for Performant Financial (NASDAQ:PFMT)

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