With earnings on tap for Aug. 6, ModivCare Inc (MODV) is trading about 7% below a 178.70 buy point. The chart pattern is a third-stage cup with handle, which is less likely than an earlier-stage base to generate a big new run. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.
The tech healthcare services firm recently acquired CareFinders, a personal care provider. This acquisition will boost ModivCare’s personal care segment to include nearly 16,000 caregivers across seven states.
Be aware that buying just before a stock reports can be risky, since an EPS or sales miss could send it sharply lower. You can minimize your risk by waiting to see the actual numbers and the market’s reaction. Using an options strategy during earnings season is another way to put yourself in a position to profit, while minimizing the potential downside.
Earnings grew 191% last quarter, up from 118% in the prior report. Revenue also increased, from 4% to 24%.
Analysts expect earnings growth of -49% for the quarter, and an -11% gain for the full year.
ModivCare has a 91 Composite Rating and holds the No. 1 rank among its peers in the Commercial Services-Healthcare industry group. Corvel (CRVL) and Vocera Communications (VCRA) are also among the group’s highest-rated stocks.
Note: Dates for earnings reports are subject to change. Check the company’s website for any updates.
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