Maximus (NYSE:MMS) Releases FY24 Earnings Guidance

Maximus (NYSE:MMSGet Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $5.20-5.50 for the period, compared to the consensus estimate of $4.95. The company issued revenue guidance of $5.05-5.20 billion, compared to the consensus revenue estimate of $5.14 billion. Maximus also updated its FY 2024 guidance to 5.200-5.500 EPS.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MMS. StockNews.com upgraded Maximus from a hold rating to a buy rating in a report on Thursday. TheStreet raised Maximus from a c+ rating to a b- rating in a research report on Monday, December 4th. Finally, Raymond James downgraded Maximus from an outperform rating to a market perform rating in a research report on Wednesday, January 3rd.

View Our Latest Analysis on Maximus

Maximus Trading Up 4.8 %

Shares of NYSE:MMS opened at $82.57 on Friday. The company has a market capitalization of $5.04 billion, a P/E ratio of 27.34 and a beta of 0.72. Maximus has a 1 year low of $72.39 and a 1 year high of $89.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.69 and a quick ratio of 1.46. The business’s 50 day simple moving average is $82.24 and its 200 day simple moving average is $80.10.

Maximus (NYSE:MMSGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The health services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.06. Maximus had a return on equity of 15.68% and a net margin of 3.73%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts anticipate that Maximus will post 5.32 EPS for the current fiscal year.

Maximus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.45%. The ex-dividend date is Wednesday, February 14th. Maximus’s payout ratio is presently 39.74%.

Insider Activity

In other news, insider Ilene R. Baylinson sold 10,043 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $85.57, for a total value of $859,379.51. Following the completion of the transaction, the insider now directly owns 5,002 shares in the company, valued at approximately $428,021.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. acquired a new stake in Maximus during the 1st quarter worth about $35,000. Captrust Financial Advisors grew its holdings in Maximus by 14.9% during the 2nd quarter. Captrust Financial Advisors now owns 1,303 shares of the health services provider’s stock worth $81,000 after acquiring an additional 169 shares during the period. International Assets Investment Management LLC grew its holdings in Maximus by 8,288.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,426 shares of the health services provider’s stock worth $120,000 after acquiring an additional 1,409 shares during the period. Covestor Ltd grew its holdings in Maximus by 92.8% during the 1st quarter. Covestor Ltd now owns 1,604 shares of the health services provider’s stock worth $120,000 after acquiring an additional 772 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Maximus in the 4th quarter valued at about $123,000. 99.30% of the stock is owned by institutional investors.

About Maximus

(Get Free Report)

Maximus, Inc operates as a provider of government services in the United States and internationally. It operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; and person-centered independent disability, long-term sick, and other health assessments.

Further Reading

Earnings History and Estimates for Maximus (NYSE:MMS)

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