For Immediate Release
Chicago, IL – October 30, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Gentiva Health Services Inc. (GTIV), Lincoln National Corp. (LNC), Manulife Financial Corp. (MFC), Principal Financial Group (PFG) and Hartford Financial Services Group Inc. (HIG).
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Here are highlights from Thursday’s AnalystBlog:
Gentiva Beats Zacks Estimate
Gentiva Health Services Inc. (GTIV) reported a third-quarter (ended Sept. 27, 2009) net income of 54 cents per share, which beat the Zacks Consensus Estimate by 2 cents. Net income per share was 42 cents in the year-ago quarter.
Net revenues for the quarter came in at $295.6 million, as against $345.2 million in the year-ago quarter. Revenues for the reported quarter included net revenues of $75.5 million from the CareCentrix business unit. Excluding the 2008 third quarter net revenues from CareCentrix, Gentiva’s net revenues increased about 9% in the reported quarter. On Sept. 25, 2008, Gentiva sold a majority interest in CareCentrix to Water Street Healthcare Partners.
Revenues from the Home Health segment increased 9% to $261.4 million in the reported quarter. Revenues in the All Other segment – which includes hospice, respiratory therapy and home medical equipment, infusion therapy and consulting – came in at $34.6 million, which reflected an increase of 11%.
Lincoln National Beats
Lincoln National Corp. (LNC) reported operating earnings of 84 cents in the third quarter, which was ahead of the Zacks Consensus Estimate of 80 cents. The company had earned $1.16 per share on an operating basis in the year-ago quarter.
The company experienced lower average variable account values compared to the prior-year period. Also, there were some modest losses on its alternative investments.
Lincoln reported a net income of $153 million or 44 cents per share compared with $148 million or 58 cents in the year-ago quarter. We note that there were fewer shares outstanding in the prior-year quarter.
Companies such as Lincoln Financial, Manulife Financial Corp. (MFC), Principal Financial Group (PFG) and Hartford Financial Services Group Inc. (HIG) have been adversely impacted by the severe equity market downturn. In particular, the variable annuity businesses of these companies have been worst hit.
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