MAXIMUS (MMS) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.79 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.70. The company posted revenue of $617.09 million in the period, compared to analysts expectations of $625.08 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.
Many Wall Street Analysts have commented on MAXIMUS. KeyBanc Capital Mkts Initiated MAXIMUS on Jul 11, 2016 to “Overweight”, Price Target of the shares are set at $63.
MAXIMUS closed down -1.37 points or -2.31% at $57.81 with 2,92,707 shares getting traded on Tusday. Post opening the session at $59.1, the shares hit an intraday low of $57.76 and an intraday high of $59.36 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
Investors should note that on Jul 12, 2016, MAXIMUS announced a cash dividend of $0.0450. The company’s management has announced Aug 11, 2016 as the ex-dividend date and fixed the record date on Aug 15, 2016. The payable date has been fixed on Aug 31, 2016.
In a different news, on Aug 2, 2016, David Francis (General Counsel) sold 1,500 shares at $58.91 per share price. According to the SEC, on Jul 15, 2016, Raymond B Ruddy (director) sold 18,000 shares at $60.00 per share price. On Jun 22, 2016, Bruce Caswell (President) sold 30,000 shares at $56.34 per share price, according to the Form-4 filing with the securities and exchange commission.
MAXIMUS Inc. provides business process services (BPS) to Government health and human services agencies. The Company is primarily focused on operating Government-sponsored programs such as Medicaid children’s health insurance program (CHIP) health insurance exchanges and other health care reform initiatives Medicare welfare-to-work child support services and other Government programs. It provides health and human services to Governments in the United States Australia Canada the United Kingdom and Saudi Arabia. The Company’s United States federal services business provides various contract vehicles. The Company’s Health Services segment provides a range of business process services as well as related consulting services for state provincial and federal Government programs. The Company’s Human Services segment provides federal national state and county human services agencies with a range of business process services as well as related consulting services.