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

Clover Health Investments

08/05/2024 12:40

* Clover Health Investments Corp  CLOV.OQ  reported a
quarterly
adjusted loss of 4 cents​​ per share for the quarter ended in
March, higher than the same quarter last year, when the company
reported EPS of -15 cents.  The mean expectation of
three analysts for the quarter was for a loss of 7 cents per
share. Wall Street expected results to range from -9 cents to -6
cents per share.
    * Revenue fell 34.3% to $346.92 million from a year ago;
analysts
expected $321.23 million. 
    * Clover Health Investments Corp's reported EPS for the
quarter
was a loss of 4 cents​.
    * The company reported a quarterly loss of $19.17 million.
    * Clover Health Investments Corp shares had fallen by 6.8%
this
quarter and lost 22.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 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 May 8 at 11:40
a.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
 Mar. 31 2024      -0.07          -0.04          Beat
 Dec. 31 2023      -0.14          -0.14          Met
 Sep. 30 2023      -0.11          -0.09          Beat
 Jun. 30 2023      -0.15          -0.06          Beat