Ensign Group cuts FY13 EPS view to $2.72-$2.81 from $2.79-$2.88 Consensus $2.80. As a result of its settlement with the Department of Justice, the company will incur ongoing costs associated with enhanced compliance activities, including monitoring expenses and other costs under the corporate integrity agreement as well as interest expense on a portion of the settlement amount, totaling approximately $2.5M annually. Ensign has accordingly revised its previously-announced earnings guidance for 2013 to a range of $2.72 to $2.81 per share.
Ensign Group upgraded to Outperform from Market Perform at Wells Fargo Wells Fargo upgraded Ensign Group to Outperform saying the company is well positioned to grow through acquisitions following the secondary share issuance. Wells raised its price target range for shares to $50-$55 from $38-$42.