Almost Family Inc. (AFAM) has gone on to set a new 52-week high after a spectacular third-quarter earnings announcement.
Almost Family operates healthcare centers for adults who would normally be placed into a nursing home. The facilities offer independence for seniors who require frequent medical and therapeutic care. Round-trip transportation is also available for any quest.
Almost Family also offers home health care options for patients, typically recovering from an extended hospital visit. The segment offers everything from meal preparation and home upkeep to medical care and respite. The company is headquartered in Louisville, Kentucky, has almost 5,000 employees, and a market cap of $329 million.
A Healthy Quarter
On Nov 5 Almost Family reported third quarter earnings per share of 57 cents. Earnings were up 68% year-over-year and 12 cents higher than analysts expectations. The 27% surprise was the fourth surprise in the past 4 earnings releases, averaging 23%.
Earnings were driven by an 84% increase in revenues, $58.7 million up from $32 million one year ago.
Estimates Continue to Rise
The consensus estimate for 2008 is not $2.00, up from $1.89 just before the earnings report. Analyst estimates for 2009 currently average $2.40, up 14 cents in the past week.
Given these forecasts, the growth rate for full-year 2008 is 43%, while 2009 is 20%. Almost Family's long-term growth rate is 25%, yielding a PEG ration of 1.0.
Featured In Forbes
On Oct 8th Almost Family was recognized by Forbes in its list of the 200 Best Small Companies in America. The company ranked 24th on the list that rated stocks based on 1-year and 5-year growth. Last year, Almost Family ranked 77th on the list.
Shares of AFAM have had a fantastic year. The stock recently posted its lasted 52-week high of $53.85 just after the third quarter earnings release. Take a look at the chart below.