Benefitfocus, Inc. (BNFT) Expected to Post Earnings of -$0.13 Per Share

Brokerages predict that Benefitfocus, Inc. (NASDAQ:BNFT) will post earnings of ($0.13) per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Benefitfocus’ earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at ($0.08). Benefitfocus posted earnings of ($0.14) per share during the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that Benefitfocus will report full-year earnings of ($0.30) per share for the current financial year, with EPS estimates ranging from ($0.37) to ($0.19). For the next fiscal year, analysts anticipate that the business will report earnings of $0.04 per share, with EPS estimates ranging from ($0.13) to $0.32. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. The company had revenue of $63.30 million for the quarter, compared to analyst estimates of $62.07 million. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.22) earnings per share.

A number of brokerages have recently weighed in on BNFT. Zacks Investment Research cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a research note on Wednesday. Berenberg Bank reissued a “buy” rating and set a $36.00 price objective on shares of Benefitfocus in a research note on Thursday, August 10th. Piper Jaffray Companies reissued a “buy” rating and set a $43.00 price objective on shares of Benefitfocus in a research note on Friday, August 4th. Chardan Capital cut shares of Benefitfocus from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $36.00 to $30.00 in a research note on Friday, August 4th. Finally, Canaccord Genuity reissued a “buy” rating and set a $35.00 price objective on shares of Benefitfocus in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.78.

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Shares of Benefitfocus (BNFT) traded up 1.56% on Thursday, hitting $32.55. The stock had a trading volume of 154,560 shares. Benefitfocus has a one year low of $24.55 and a one year high of $42.49. The stock’s market cap is $1.01 billion. The company’s 50 day moving average is $30.96 and its 200 day moving average is $31.73.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new position in shares of Benefitfocus in the 2nd quarter valued at $463,000. California State Teachers Retirement System boosted its holdings in shares of Benefitfocus by 11.0% in the 2nd quarter. California State Teachers Retirement System now owns 28,198 shares of the software maker’s stock valued at $1,025,000 after purchasing an additional 2,800 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Benefitfocus by 22.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the software maker’s stock valued at $476,000 after purchasing an additional 2,410 shares during the last quarter. State Street Corp boosted its holdings in shares of Benefitfocus by 19.1% in the 2nd quarter. State Street Corp now owns 268,724 shares of the software maker’s stock valued at $9,765,000 after purchasing an additional 43,136 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new position in shares of Benefitfocus in the 2nd quarter valued at $260,000. Institutional investors own 84.63% of the company’s stock.

About Benefitfocus

Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.

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According to Zacks, analysts expect that Benefitfocus will report full-year earnings of ($0.30) per share for the current financial year, with EPS estimates ranging from ($0.37) to ($0.19). For the next fiscal year, analysts anticipate that the business will report earnings of $0.04 per share, with EPS estimates ranging from ($0.13) to $0.32. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. The company had revenue of $63.30 million for the quarter, compared to analyst estimates of $62.07 million. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.22) earnings per share.

A number of brokerages have recently weighed in on BNFT. Zacks Investment Research cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a research note on Wednesday. Berenberg Bank reissued a “buy” rating and set a $36.00 price objective on shares of Benefitfocus in a research note on Thursday, August 10th. Piper Jaffray Companies reissued a “buy” rating and set a $43.00 price objective on shares of Benefitfocus in a research note on Friday, August 4th. Chardan Capital cut shares of Benefitfocus from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $36.00 to $30.00 in a research note on Friday, August 4th. Finally, Canaccord Genuity reissued a “buy” rating and set a $35.00 price objective on shares of Benefitfocus in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.78.

COPYRIGHT VIOLATION WARNING: This piece was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/17/benefitfocus-inc-bnft-expected-to-post-earnings-of-0-13-per-share.html.

Shares of Benefitfocus (BNFT) traded up 1.56% on Thursday, hitting $32.55. The stock had a trading volume of 154,560 shares. Benefitfocus has a one year low of $24.55 and a one year high of $42.49. The stock’s market cap is $1.01 billion. The company’s 50 day moving average is $30.96 and its 200 day moving average is $31.73.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new position in shares of Benefitfocus in the 2nd quarter valued at $463,000. California State Teachers Retirement System boosted its holdings in shares of Benefitfocus by 11.0% in the 2nd quarter. California State Teachers Retirement System now owns 28,198 shares of the software maker’s stock valued at $1,025,000 after purchasing an additional 2,800 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Benefitfocus by 22.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the software maker’s stock valued at $476,000 after purchasing an additional 2,410 shares during the last quarter. State Street Corp boosted its holdings in shares of Benefitfocus by 19.1% in the 2nd quarter. State Street Corp now owns 268,724 shares of the software maker’s stock valued at $9,765,000 after purchasing an additional 43,136 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new position in shares of Benefitfocus in the 2nd quarter valued at $260,000. Institutional investors own 84.63% of the company’s stock.

About Benefitfocus

Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.

Get a free copy of the Zacks research report on Benefitfocus (BNFT)

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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