-$0.43 Earnings Per Share Expected for Benefitfocus Inc (NASDAQ:BNFT) This Quarter

Equities research analysts expect Benefitfocus Inc (NASDAQ:BNFT) to report ($0.43) earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have provided estimates for Benefitfocus’ earnings. The lowest EPS estimate is ($0.45) and the highest is ($0.41). Benefitfocus reported earnings of ($0.24) per share during the same quarter last year, which would suggest a negative year over year growth rate of 79.2%. The business is expected to report its next earnings results on Thursday, August 1st.

On average, analysts expect that Benefitfocus will report full-year earnings of ($0.75) per share for the current financial year, with EPS estimates ranging from ($0.80) to ($0.70). For the next financial year, analysts forecast that the firm will post earnings of ($0.23) per share, with EPS estimates ranging from ($0.39) to ($0.04). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that cover Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last announced its earnings results on Wednesday, May 1st. The software maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.77 million. During the same period in the previous year, the firm posted ($0.26) EPS. Benefitfocus’s revenue was up 9.5% compared to the same quarter last year.

Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of First Merchants from a “hold” rating to a “sell” rating in a research report on Monday, July 1st. BidaskClub lowered shares of Zynga from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Cantor Fitzgerald reiterated a “buy” rating and set a $60.00 target price on shares of Benefitfocus in a research report on Wednesday, May 1st. Royal Bank of Canada lifted their target price on shares of Shopify from C$230.00 to C$265.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $70.00 target price on shares of Church & Dwight in a research report on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Benefitfocus presently has a consensus rating of “Hold” and an average price target of $51.92.

In other Benefitfocus news, insider Raymond Alexander August acquired 3,200 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $31.15 per share, for a total transaction of $99,680.00. Following the acquisition, the insider now owns 511,925 shares in the company, valued at approximately $15,946,463.75. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Lou Anne Gilmore sold 1,019 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $26.89, for a total transaction of $27,400.91. Following the completion of the sale, the chief financial officer now owns 34,133 shares of the company’s stock, valued at $917,836.37. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of BNFT. BlackRock Inc. increased its stake in shares of Benefitfocus by 13.6% in the fourth quarter. BlackRock Inc. now owns 1,706,575 shares of the software maker’s stock worth $78,026,000 after buying an additional 204,222 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Benefitfocus by 26.9% in the fourth quarter. Bank of New York Mellon Corp now owns 104,574 shares of the software maker’s stock worth $4,781,000 after buying an additional 22,137 shares during the period. Citigroup Inc. increased its stake in shares of Benefitfocus by 217.4% in the fourth quarter. Citigroup Inc. now owns 16,595 shares of the software maker’s stock worth $759,000 after buying an additional 11,367 shares during the period. Geode Capital Management LLC increased its stake in shares of Benefitfocus by 9.2% in the fourth quarter. Geode Capital Management LLC now owns 285,750 shares of the software maker’s stock worth $13,063,000 after buying an additional 23,992 shares during the period. Finally, Polar Capital LLP increased its stake in shares of Benefitfocus by 6.4% in the fourth quarter. Polar Capital LLP now owns 303,854 shares of the software maker’s stock worth $13,892,000 after buying an additional 18,365 shares during the period. 98.58% of the stock is currently owned by institutional investors.

Benefitfocus stock traded down $0.38 during mid-day trading on Wednesday, hitting $25.09. 11,847 shares of the company traded hands, compared to its average volume of 452,325. Benefitfocus has a one year low of $24.74 and a one year high of $60.66. The firm has a market capitalization of $828.55 million, a PE ratio of -16.98 and a beta of 1.35. The business’s fifty day moving average price is $27.02.

About Benefitfocus

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, suppliers, and brokers in the United States. The company operates through Employer and Carrier segments. Its products for insurance carriers include BenefitsPlace, a transaction-oriented, marketplace solution; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution that bridges the integration gap between carrier and employer systems; eSales for carriers and brokers tools to organize and manage accounts, track leads, generate quotes, and create proposals for various products; and Core & Advanced Analytics, a data analytics solution.

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