CareTrust REIT Inc. (NYSE:CTRE) finished Wednesday with an addition of $0.16 to close at $19.86, an upside of 0.81 percent. An average of 749,320 shares of common stock have been traded in the last five days. There was a gain of $0.05 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 734,430 shares traded, while the 50-day average volume stands at 802,494.
CTRE stock has decreased by -6.10% in the last month. The company shares reached their 1-month lowest point of $19.43 on 08/18/23. 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 $21.89 in 52 weeks. It has reached a new high 16 times so far this year and achieved 6.89% or $1.28 in price. In spite of this, the price is down -9.26% from the 52-week high.
Valuation Metrics
CareTrust REIT Inc. (CTRE) has a trailing price-to-earnings (P/E) ratio of 58.41. The stock’s beta is 1.12. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 9.58, the price-to-book (PB) ratio at 2.42.
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.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, CareTrust REIT Inc.’s return on assets was 2.00%.
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 4406.25%. 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 23 August was 42.23%, suggesting the stock is Neutral, with historical volatility in this time frame at 11.65%.
As of today, CTRE’s price is $19.72 +0.25% or $0.05 from its 5-day moving average. CTRE is currently trading -5.65% lower than its 20-day SMA and +3.71% higher than its 100-day SMA. However, the stock’s current price level is +0.05% above the SMA50 and +8.41% above the SMA200.
The stochastic %K and %D were 21.09% and 17.77%, respectively, and the average true range (ATR) was 0.37. With the 14-day stochastic at 29.25% and the average true range at 0.38, the RSI (14) stands at 43.66%. The stock has reached -0.11 on the 9-day MACD Oscillator while the 14-day reading was at -0.34.
Analyst Ratings
BMO Capital Markets upgraded CareTrust REIT Inc. (NYSE: CTRE) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Market perform. 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 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 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 $22.11.
