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Investors might want to bet on Ensign Group (ENSG) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since a cha ...

Core Viewpoint - The Ensign Group, Inc. (ENSG) reported strong third-quarter 2024 results, with a 4.1% increase in shares following the earnings announcement, driven by improved occupancy and higher skilled service revenues, although offset by rising expenses and declining cash flow from operations [1][2]. Financial Performance - Adjusted earnings per share (EPS) for Q3 2024 was $1.39, exceeding the Zacks Consensus Estimate by 1.5% and reflecting a 15.8% year-over-year increase [2]. - Operating revenues reached $1.08 billion, marking a 15% year-over-year improvement and surpassing the consensus estimate by 1.7% [2]. - Adjusted net income grew 17.7% year over year to $81.1 million, beating the estimate of $79.4 million [3]. Operational Metrics - Same-store occupancy improved by 280 basis points year over year, while transitioning occupancy expanded by 480 basis points [3]. - Total expenses increased by 15.3% year over year to $992.4 million, exceeding the estimate of $975.7 million, driven by higher service costs and administrative expenses [4]. Segment Performance - Skilled Services segment revenues rose 14.4% year over year to $1 billion, supported by improved occupancy and patient days, with segment income increasing by 9.1% to $128.5 million [5]. - Rental revenues in the Standard Bearer segment amounted to $24.4 million, growing 16.4% year over year, and segmental income rose 1.5% to $7.3 million [6]. Financial Position - As of September 30, 2024, cash and cash equivalents stood at $532.1 million, a 4.4% increase from the end of 2023, with total assets rising 10.8% to $4.6 billion [7]. - Long-term debt (less current maturities) decreased by 2% to $142.6 million, while total equity climbed nearly 16.9% to $1.8 billion [8]. Capital Deployment - No share buybacks occurred in the first nine months of 2024, while dividends paid amounted to $10.2 million [9]. 2024 Outlook - Revenue guidance for 2024 is projected between $4.25 billion and $4.26 billion, indicating a 14.1% improvement from 2023 [10]. - Adjusted EPS is forecasted to be between $5.46 and $5.52, suggesting over 15.1% growth from the previous year [10].

The Ensign Group, Inc. ENSG reported worse-than-expected third-quarter adjusted EPS results and narrowed its FY24 EPS guidance, after the closing bell on Thursday. Ensign Group reported quarterly earnings of S1.34 per share which missed the analyst consensus estimate of S1.38 per share. The company reported quarterly sales of $1.081 billion which beat the analyst consensus estimate of $1.068 billion. "Our local leaders continue to consistently drive outstanding clinical and financial performance and we are ...

Ensign Group (ENSG) came out with quarterly earnings of $1.39 per share, beating the Zacks Consensus Estimate of $1.37 per share. This compares to earnings of $1.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.46%. A quarter ago, it was expected that this provider of nursing and rehabilitative care services would post earnings of $1.29 per share when it actually produced earnings of $1.32, delivering a surprise of 2.33%.O ...

Core Insights - The Ensign Group, Inc. reported strong financial results for Q3 2024, with GAAP diluted earnings per share of $1.34 and adjusted earnings per share of $1.39, reflecting significant year-over-year growth [1][2]. Financial Performance - GAAP net income reached $78.4 million, a 22.8% increase compared to the same quarter last year, while adjusted net income was $81.1 million, up 17.7% [2]. - Consolidated GAAP and adjusted revenue for the quarter were both $1.08 billion, marking a 15.0% increase from the prior year [3]. - Same Facilities and Transitioning Facilities occupancy rates increased by 2.8% and 4.8%, respectively, year-over-year [2][3]. Operational Highlights - The company added 53 new operations during the quarter, demonstrating effective integration of new acquisitions into existing clusters [4]. - Same store occupancy reached a record high of 81.7%, a 2.8% increase from the previous year, despite seasonal trends typically leading to lower occupancy [4]. - Managed care census grew by 9.1% and 23.2% for same store and transitioning operations, respectively, indicating strong performance across all payors [4]. Growth Strategy - The company is optimistic about unlocking further growth potential within its existing portfolio, emphasizing a strategy that does not solely rely on new acquisitions [5]. - Ensign is raising its annual 2024 earnings guidance to between $5.46 and $5.52 per diluted share, reflecting a more than 15.1% increase over 2023 results [6]. - The company continues to pursue acquisitions, with 27 operations acquired in 2024, and expects to close additional deals by year-end [6][7]. Real Estate and Portfolio Expansion - Ensign's portfolio now consists of 323 healthcare operations across 14 states, with 122 owned real estate assets [9]. - Recent acquisitions include several skilled nursing facilities in Colorado and other states, enhancing the company's operational footprint [7][8]. Liquidity and Financial Health - The company maintains strong liquidity with approximately $532.1 million in cash and $572.1 million available under its line of credit [6]. - A quarterly cash dividend of $0.06 per share was declared, continuing a long history of dividend payments [10].

SAN JUAN CAPISTRANO, Calif., Oct. 21, 2024 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG or the “Company”), the parent company of the Ensign™ group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies, other rehabilitative and healthcare services, and real estate, announced today that the Board of Directors (the “Board”) appointed Mark Parkinson to serve on the Board as its ninth director. In May of this year, Ensign sha ...

The Ensign Group, Inc. (ENSG) recently announced the acquisition of the real estate and operations of two healthcare facilities in Norfolk, NE. The acquisition includes St. Joseph Rehabilitation and Care Center, an 83- bed skilled nursing facility and Skyview Villa Assisted Living, a 20-bed assisted living facility. These acquisitions were completed through a subsidiary of ENSG's captive real estate entity, Standard Bearer Healthcare REIT, Inc., and took effect on Oct. 1, 2024. These moves bode well for ENS ...

Shares of The Ensign Group, Inc. (ENSG) have gained 19.2% in the past six months compared with the industry's 14.2% growth. The Medical sector and the S&P 500 Composite increased 2.6% and 4.7%, respectively, in the same time frame. ENSG's 3-Month Price Performance Image Source: Zacks Investment Research An extensive healthcare network, acquisitions of healthcare facilities and a notable financial position continue to drive Ensign Group. Ensign Group carries a Zacks Rank #2 (Buy) at present. Rising Estimates ...

Have you been paying attention to shares of Ensign Group (ENSG) ? Shares have been on the move with the stock up 8.1% over the past month. The stock hit a new 52-week high of $153.64 in the previous session. Ensign Group has gained 36.1% since the start of the year compared to the 11.6% move for the Zacks Medical sector and the 31% return for the Zacks Medical - Nursing Homes industry. What's Driving the Outperformance? The stock has a great record of positive earnings surprises, as it hasn't missed our ear ...