Progyny (NASDAQ:PGNY) Announces Earnings Results, Misses Expectations By $0.26 EPS

Progyny (NASDAQ:PGNY) posted its quarterly earnings results on Tuesday. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26), Briefing.com reports. The business had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 EPS.

Progyny Stock Performance

NASDAQ PGNY opened at $13.98 on Friday. The stock has a market capitalization of $1.19 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.31 and a beta of 1.44. The business’s fifty day moving average is $17.49 and its two-hundred day moving average is $23.49. Progyny has a 1 year low of $13.77 and a 1 year high of $42.08.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PGNY. JPMorgan Chase & Co. cut their target price on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Canaccord Genuity Group reduced their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday. Barclays decreased their target price on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday. Bank of America dropped their target price on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Leerink Partners decreased their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.42.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.