Zacks: Analysts Anticipate MTBC, Inc (NASDAQ:MTBC) to Post -$0.69 Earnings Per Share

Equities research analysts expect that MTBC, Inc (NASDAQ:MTBC) will announce earnings of ($0.69) per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for MTBC’s earnings, with estimates ranging from ($1.09) to ($0.45). MTBC posted earnings of ($0.19) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 263.2%. The firm is scheduled to report its next earnings report on Wednesday, August 5th.

On average, analysts expect that MTBC will report full-year earnings of ($1.30) per share for the current year, with EPS estimates ranging from ($1.45) to ($1.06). For the next year, analysts anticipate that the firm will post earnings of ($0.64) per share, with EPS estimates ranging from ($0.75) to ($0.42). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow MTBC.

MTBC (NASDAQ:MTBC) last released its earnings results on Thursday, May 14th. The technology company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.22. The business had revenue of $21.87 million for the quarter, compared to the consensus estimate of $21.37 million. MTBC had a negative return on equity of 10.63% and a negative net margin of 6.41%.

A number of equities research analysts have weighed in on MTBC shares. Dougherty & Co reaffirmed a “buy” rating and set a $7.50 price objective on shares of MTBC in a report on Friday, May 15th. We reiterate our Buy rating on MTBC following Q1 results that beat expectations acrossrevenue, EBITDA and EPS. Q1 was the first quarter in which the CareCloud acquisitioncontributed, and registered a small top-line beat relative to our expectations. Owingto COVID and the precipitous decline in physician visits entering Q2, MTBC expectsQ2 to be down sequentially, with negative EBITDA and EPS. This is not a surprise asfully 60% of MTBC revenue is dependent on physician volumes and charges. Still, MTBCreiterated its full-year view of $100M to $102M in revenue and $12-$13M EBITDA asit has multiple paths to get there, namely its growing Force partner program, and verylikely an acquisition of a tuck-in nature. Depending on the size of the deal, we thinkMTBC could exceed guidance, but for now we have not built any acquired growth in ourmodel and remain slightly below management’s outlook. B. Riley reaffirmed a “buy” rating and set a $8.50 price objective on shares of MTBC in a report on Thursday, June 18th. LADENBURG THALM/SH SH started coverage on MTBC in a report on Tuesday, June 2nd. They set a “buy” rating on the stock. National Securities reaffirmed a “buy” rating and set a $8.00 price objective on shares of MTBC in a report on Thursday, May 14th. Finally, ValuEngine raised MTBC from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. Six investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $8.50.

NASDAQ MTBC traded up $0.14 during trading on Thursday, reaching $8.33. 4,257 shares of the company traded hands, compared to its average volume of 169,762. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.29. The stock’s 50 day moving average price is $7.13 and its two-hundred day moving average price is $5.76. The company has a market cap of $108.50 million, a price-to-earnings ratio of -9.46 and a beta of 1.11. MTBC has a 1-year low of $3.25 and a 1-year high of $9.09.

In related news, Director Cameron Munter sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $6.70, for a total value of $335,000.00. Following the completion of the transaction, the director now owns 117,250 shares in the company, valued at approximately $785,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bill Korn sold 4,835 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $7.36, for a total transaction of $35,585.60. Following the completion of the transaction, the chief financial officer now owns 137,501 shares of the company’s stock, valued at approximately $1,012,007.36. The disclosure for this sale can be found here. Insiders sold a total of 76,753 shares of company stock worth $543,377 over the last three months. 46.00% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. bought a new position in MTBC in the 1st quarter worth approximately $83,000. Acadian Asset Management LLC raised its position in shares of MTBC by 551.9% during the 1st quarter. Acadian Asset Management LLC now owns 96,349 shares of the technology company’s stock valued at $529,000 after acquiring an additional 81,569 shares during the last quarter. EAM Investors LLC bought a new stake in shares of MTBC during the 1st quarter valued at $807,000. Finally, Globeflex Capital L P bought a new stake in shares of MTBC during the 1st quarter valued at $492,000. Hedge funds and other institutional investors own 17.02% of the company’s stock.

About MTBC

MTBC, Inc, a healthcare information technology (IT) company, provides an integrated suite of Web-based solutions and related business services to healthcare providers primarily in the United States. The company operates through two segments, Healthcare IT and Practice Management. It primarily offers PracticePro, a software-as-a-service platform, which includes practice management software and related tools that facilitate the day-to-day business operation and workflows; electronic health record (EHR), which enables customers to reduce paperwork; revenue cycle management services, such as end-to-end medical billing, analytics, and related services; and mobile health solutions, including smartphone applications that assist patients and healthcare providers in the provision of healthcare services.

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