Brookdale Senior Living Inc. (NYSE:BKD) Shares Gap Down Following Weak Earnings

Brookdale Senior Living Inc. (NYSE:BKD) shares gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $11.42, but opened at $12.00. Brookdale Senior Living shares last traded at $12.95, with a volume of 4,116,073 shares traded.

The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.56 by $0.79. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.14 billion. Brookdale Senior Living had a negative net margin of 10.14% and a positive return on equity of 6.00%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business earned ($0.19) earnings per share.

Several analysts recently weighed in on BKD shares. BidaskClub lowered Brookdale Senior Living from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $16.50 target price on shares of Brookdale Senior Living in a research report on Friday, July 14th. ValuEngine downgraded Brookdale Senior Living from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Brookdale Senior Living from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Finally, Stifel Nicolaus lowered their price objective on Brookdale Senior Living from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Brookdale Senior Living currently has an average rating of “Hold” and a consensus target price of $18.29.

Several hedge funds and other institutional investors have recently made changes to their positions in BKD. Paulson & CO. Inc. bought a new position in shares of Brookdale Senior Living during the first quarter valued at about $67,707,000. Wellington Management Group LLP boosted its position in shares of Brookdale Senior Living by 125.2% in the first quarter. Wellington Management Group LLP now owns 5,241,746 shares of the company’s stock valued at $70,398,000 after buying an additional 2,914,451 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Brookdale Senior Living by 38.5% in the second quarter. Dimensional Fund Advisors LP now owns 9,887,660 shares of the company’s stock valued at $145,448,000 after buying an additional 2,751,084 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Brookdale Senior Living by 176.0% in the first quarter. Macquarie Group Ltd. now owns 2,649,529 shares of the company’s stock valued at $35,583,000 after buying an additional 1,689,610 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. acquired a new stake in shares of Brookdale Senior Living during the first quarter worth approximately $20,383,000.

The company has a 50 day moving average price of $13.69 and a 200 day moving average price of $13.77. The firm’s market cap is $2.24 billion.

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About Brookdale Senior Living

Brookdale Senior Living Inc operates senior living communities in the United States. The Company operates independent living, assisted living and dementia-care communities, and continuing care retirement centers (CCRCs). It operates through five segments: Retirement Centers; Assisted Living; CCRCs-Rental; Brookdale Ancillary Services and Management Services.

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