Joint (JYNT) Posts Earnings Results, Misses Estimates By $0.01 EPS
Joint (NASDAQ:JYNT) announced its quarterly earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01), Morningstar.com reports. The company had revenue of $8.06 million during the quarter, compared to analysts’ expectations of $7.98 million. Joint had a negative net margin of 3.72% and a negative return on equity of 34.99%. Joint updated its FY 2018 guidance to EPS.
NASDAQ JYNT traded down $0.08 during trading hours on Friday, reaching $7.90. The company’s stock had a trading volume of 117,539 shares, compared to its average volume of 39,735. The stock has a market cap of $104.46 million, a price-to-earnings ratio of -31.60 and a beta of 1.02. Joint has a fifty-two week low of $4.65 and a fifty-two week high of $9.64. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75.
JYNT has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Joint from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a report on Wednesday, August 15th. Roth Capital reiterated a “buy” rating on shares of Joint in a report on Friday, August 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $10.58.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Granahan Investment Management Inc. MA acquired a new stake in Joint in the 2nd quarter valued at about $1,325,000. Tower Research Capital LLC TRC grew its stake in Joint by 20,991.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,444 shares of the company’s stock valued at $102,000 after acquiring an additional 12,385 shares during the last quarter. Bandera Partners LLC acquired a new stake in Joint in the 2nd quarter valued at about $10,669,000. Acadian Asset Management LLC grew its stake in Joint by 276.5% in the 2nd quarter. Acadian Asset Management LLC now owns 142,127 shares of the company’s stock valued at $1,162,000 after acquiring an additional 104,373 shares during the last quarter. Finally, Redmond Asset Management LLC acquired a new stake in Joint in the 2nd quarter valued at about $408,000. 51.87% of the stock is currently owned by hedge funds and other institutional investors.
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Joint Company Profile
The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics in the United States. It operates through direct ownership, management arrangements, franchising, and the sale of regional developer rights. As of August 9, 2018, the company operated approximately 400 clinics. The company was founded in 2010 and is headquartered in Scottsdale, Arizona.
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