Benefitfocus Inc (BNFT) Expected to Post Quarterly Sales of $60.22 Million

Wall Street brokerages predict that Benefitfocus Inc (NASDAQ:BNFT) will report $60.22 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Benefitfocus’ earnings, with the highest sales estimate coming in at $63.61 million and the lowest estimate coming in at $58.99 million. Benefitfocus reported sales of $62.45 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.6%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that Benefitfocus will report full year sales of $256.09 million for the current financial year, with estimates ranging from $254.50 million to $257.84 million. For the next year, analysts anticipate that the business will post sales of $285.37 million, with estimates ranging from $278.12 million to $290.65 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings results on Thursday, August 2nd. The software maker reported ($0.24) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.16. The firm had revenue of $60.60 million for the quarter, compared to analyst estimates of $56.93 million. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share.

Several equities research analysts have commented on BNFT shares. Guggenheim started coverage on Benefitfocus in a research note on Monday, August 20th. They set a “buy” rating and a $45.00 price target for the company. ValuEngine upgraded Benefitfocus from a “hold” rating to a “buy” rating in a research note on Monday, August 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $43.00 target price on shares of Benefitfocus in a research note on Friday, July 20th. BidaskClub lowered Benefitfocus from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Finally, Zacks Investment Research lowered Benefitfocus from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $37.90.

In other news, Director Francis J. Pelzer sold 5,000 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $42.02, for a total value of $210,100.00. Following the completion of the sale, the director now owns 19,275 shares in the company, valued at $809,935.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jonathon E. Dussault sold 4,045 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $36.81, for a total value of $148,896.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,045 shares of company stock valued at $399,056. Insiders own 29.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY grew its stake in Benefitfocus by 59.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,581 shares of the software maker’s stock valued at $221,000 after purchasing an additional 2,453 shares in the last quarter. Gofen & Glossberg LLC IL acquired a new stake in Benefitfocus during the 2nd quarter valued at approximately $239,000. Voya Investment Management LLC acquired a new stake in Benefitfocus during the 2nd quarter valued at approximately $263,000. Dynamic Technology Lab Private Ltd acquired a new stake in Benefitfocus during the 2nd quarter valued at approximately $267,000. Finally, Trexquant Investment LP bought a new position in Benefitfocus during the 2nd quarter worth approximately $284,000. Hedge funds and other institutional investors own 93.58% of the company’s stock.

NASDAQ:BNFT traded up $0.30 on Friday, hitting $41.30. 149,388 shares of the stock were exchanged, compared to its average volume of 227,542. The firm has a market capitalization of $1.29 billion, a PE ratio of -52.41 and a beta of 1.04. The company has a debt-to-equity ratio of -3.49, a current ratio of 0.98 and a quick ratio of 0.98. Benefitfocus has a fifty-two week low of $21.75 and a fifty-two week high of $44.70.

Benefitfocus Company Profile

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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