CareTrust REIT Inc. (NYSE:CTRE) finished Friday with an addition of $0.09 to close at $20.26, an upside of 0.45 percent. An average of 631,000 shares of common stock have been traded in the last five days. There was a fall of -$0.20 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 779,415 shares traded, while the 50-day average volume stands at 803,366.
CTRE stock has increased by 0.75% in the last month. The company shares reached their 1-month lowest point of $19.97 on 08/04/23. With the stock rallying to its 52-week high on 07/27/23, shares of the company touched a low of $16.22 and a high of $22.25 in 52 weeks. It has reached a new high 16 times so far this year and achieved 9.04% or $1.68 in price. In spite of this, the price is down -8.96% from the 52-week high.
Valuation Metrics
CareTrust REIT Inc. (CTRE) has a trailing price-to-earnings (P/E) ratio of 36.24. The stock’s beta is 1.11. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 10.17, the price-to-book (PB) ratio at 2.39.
Financial Health
Further, the company has a long term debt to equity ratio of 1.08 and a total debt to equity ratio of 1.08 for the quarter ending June 29. Its gross profit as reported stood at $116.28 million compared to revenue of $196.13 million.
Earnings Surprise
For the three-month period that ended June 29, CareTrust REIT Inc. had $199.45 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$0.48 million in the quarter, while revenues of $19.23 million were grew 3904.17%. The analyst consensus anticipated CareTrust REIT Inc.’s latest quarter earnings to come in at $0.22 per share, but it turned out to be -$0.01, a -104.50% surprise. For the quarter, EBITDA amounted to $46.33 million. At the end of the quarter ending June 29, CareTrust REIT Inc.’s stock balance sheet showed total debt was $875.05 million. Shareholders own equity worth $99.48 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at CareTrust REIT Inc. (CTRE) price momentum. RSI 9-day as of the close on 11 August was 42.36%, suggesting the stock is Neutral, with historical volatility in this time frame at 17.82%.
As of today, CTRE’s price is $20.44 -0.98% or -$0.20 from its 5-day moving average. CTRE is currently trading +0.20% higher than its 20-day SMA and +7.03% higher than its 100-day SMA. However, the stock’s current price level is +4.43% above the SMA50 and +16.17% above the SMA200.
The stochastic %K and %D were 21.43% and 31.67%, respectively, and the average true range (ATR) was 0.41. With the 14-day stochastic at 20.71% and the average true range at 0.40, the RSI (14) stands at 46.88%. The stock has reached -0.21 on the 9-day MACD Oscillator while the 14-day reading was at -0.37.
Analyst Ratings
Berenberg launched coverage on CareTrust REIT Inc. (NYSE: CTRE) in its analyst report released on July 27, 2023. The firm assigned the stock a Buy rating. The consensus rating for CareTrust REIT Inc. (CTRE) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CTRE, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 4 others rate it as a “buy”.
What is CTRE’s price target for the next 12 months?
Analysts predict a range of price targets between $19.00 and $24.00, with a median target of $22.00. Taking a look at these predictions, the average price target given by analysts for CareTrust REIT Inc. (CTRE) stock is $21.89.
