Magellan Health Services Inc on Tuesday forecast a profit for the next year that came in below market estimates.The company, which provides services to insurance companies and various governmental agencies, expects a profit of $3.25-$3.89 per share for 2012. Analysts, on average, were expecting $4.10 per share, according to Thomson Reuters I/B/E/S.Magellan expects net revenue in the range of $3.20-$3.40 billion, higher than analysts' expectations of $3.09 billion.For 2011, Magellan raised its earnings per share outlook slightly to $3.75-$4.36 from its earlier forecast of $3.73-$4.34 per share.
Magellan Health Services, Inc. (Magellan) is engaged in the specialty managed healthcare business. Shares of MGLN remained unchanged at $48.07. In the past year, the shares have traded as low as $41.10 and as high as $56.76. On average, 238125 shares of MGLN exchange hands on a given day and today's volume is recorded at 0.
Source
