AMN Healthcare Services facing challenges, earnings dropping, stock at new lows.

From Nasdaq: 2024-11-29 06:08:00

AMN Healthcare Services, Inc. still struggling in the healthcare staffing market with a Zacks Rank #5. Earnings expected to drop 62.4% this year, with no rebound in 2025. The company provides total talent solutions for healthcare organizations across the U.S. Revenue fell 19% to $687.5 million in the third quarter of 2024.

AMN Healthcare Services reported third quarter 2024 results, beating the Zacks Consensus Estimate by $0.03. Earnings were $0.61 versus $0.58 expected. Despite beating, the company hasn’t reached the post-COVID correction bottom. Analysts remain bearish, with earnings estimates being cut for 2024 and 2025.

The company’s fourth quarter guidance does not indicate a bottom is near. Earnings estimates have been slashed, with a decline of 62.4% in 2024 and 38.1% in 2025. AMN Healthcare Services stock has plummeted to new 5-year lows, down 66% for the year. It is not considered a value but a trap.

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Read more at Nasdaq: Bear of the Day: AMN Healthcare Services (AMN)