BKD - Why Brookdale Senior Living Stock Soared Today
Shares of Brookdale Senior Living (NYSE: BKD) soared Friday, closing the trading session up by 11.1%. That big gain came after the company announced its first-quarter results after the market closed Thursday.
Brookdale reported total Q1 revenue of $749.4 million. This result reflected a 26% year-over-year decline and was below the consensus Wall Street estimate of $764.4 million. The company also posted a net loss of $108.3 million, or $0.59 per share, down from earnings of $369.5 million, or $2.01 per share, in the prior-year period. The average analysts' estimate had been for a net loss of $0.50 per share.
So why did the healthcare stock jump after missing both top- and bottom-line expectations? Apparently, investors liked that Brookdale's outlook appears to be improving quite a bit.
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Why Brookdale Senior Living Stock Soared Today