Revenue Update on The Providence Service Corporation(NASDAQ:PRSC)

The Providence Service Corporation(NASDAQ:PRSC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $450.63M. Analysts estimated a revenue of $433.38M. Earnings per share were $0.70. Analysts had estimated an EPS of $0.65.

The Providence Service Corporation (PRSC) shares turned negative on Mondays trading session with the shares closing down -0.37 points or -0.79% at a volume of 53,330. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $46.8. The peak price level was also seen at $46.8 while the days lowest was $45.97. Finally the shares closed at $46.35. The 52-week high of the shares is $56.92 while the 52-week low is $41.8. According to the latest information available, the market cap of the company is $672 M.

Several Insider Transactions has been reported to the SEC. On Mar 16, 2016, Richard A Kerley (director) sold 5,000 shares at $51.98 per share price.Also, On Dec 17, 2015, Kristi Meints (director) sold 6,231 shares at $47.74 per share price.On Dec 11, 2015, Herman Mark Schwarz (CEO – LogistiCare) sold 6,882 shares at $48.01 per share price, according to the Form-4 filing with the securities and exchange commission.

The Providence Service Corporation (Providence) provides and manages Government sponsored non-emergency transportation (NET) services human services workforce development (WD) services and health assessment (HA) services. Providence operates through four segments: NET Services Human Services WD Services and HA Services. NET Services which operates under the Logisticare brand manages transportation networks and arrange for client transportation to healthcare related facilities and services for state or regional Medicaid agencies managed care organizations (MCOs) and commercial insurers. Providence’s human services segment works with clients who are eligible for Government assistance. The WD Services segment provides workforce development services that include resume and job interview skills networking and job placement services and technical job training. The HA Services segment provides comprehensive health assessments (CHAs) for Medicare Advantage (MA) health plans.

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