Clover Health Investments Corp reports results for the quarter ended in June - Earnings Summary

Clover Health Investments

05/08/2024 23:41

* Clover Health Investments Corp  CLOV.OQ  reported
quarterly
adjusted earnings of 1 cent​​ per share for the quarter ended in
June, higher than the same quarter last year, when the company
reported EPS of -6 cents.  The mean expectation of
three analysts for the quarter was for a loss of 5 cents per
share. Wall Street expected results to range from -6 cents to -4
cents per share.
    * Revenue fell 30.6% to $356.26 million from a year ago;
analysts
expected $338.76 million. 
    * Clover Health Investments Corp's reported EPS for the
quarter
was 1 cent​.
    * The company reported quarterly net income of $7.41
million.
    * Clover Health Investments Corp shares had risen by 35.8%
this
quarter and gained 75.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 11.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the managed
healthcare
peer group is also "hold"

Wall Street's median 12-month price target for Clover Health
Investments Corp is $1.38 
This summary was machine generated from LSEG data August 5 at
10:40 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.05          0.01           Beat
 Mar. 31 2024      -0.07          -0.04          Beat
 Dec. 31 2023      -0.14          -0.14          Met
 Sep. 30 2023      -0.11          -0.09          Beat