Progyny (NASDAQ:PGNY) Issues Quarterly Earnings Results, Misses Estimates By $0.26 EPS

Progyny (NASDAQ:PGNY) released its quarterly earnings data on Tuesday. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26), Briefing.com reports. Progyny had a return on equity of 10.87% and a net margin of 5.03%. The business had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. During the same period in the prior year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year.

Progyny Trading Down 19.1 %

Shares of NASDAQ:PGNY opened at $13.90 on Thursday. Progyny has a twelve month low of $13.77 and a twelve month high of $42.08. The firm has a market cap of $1.25 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.62 and a beta of 1.44. The company has a 50 day moving average of $17.69 and a 200-day moving average of $23.56.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PGNY shares. Leerink Partners dropped their price objective on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price objective on shares of Progyny in a research report on Tuesday, October 1st. Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Canaccord Genuity Group downgraded shares of Progyny from a “buy” rating to a “hold” rating and reduced their price target for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. Finally, JMP Securities downgraded shares of Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Progyny has a consensus rating of “Hold” and a consensus target price of $25.42.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.