Shares of Maximus Inc. fell to a 52-week low of $52.72 on Wednesday, marking a decline of roughly 47% from the stock's 52-week high of $100. The government-contracting firm has shed 39.9% over the past year and 37% year to date.
The stock weakness followed the company's decision to adjust its full-year profit outlook, citing a temporary pause in incentives on a significant Veterans Affairs contract.
For its fiscal third quarter, Maximus reported adjusted earnings of $2.22 per share, beating the forecast of $2.18. Revenue came in at $1.28 billion, falling short of the $1.33 billion analysts had anticipated.
The company, which trades under the ticker MMS, carries a price-to-earnings ratio of 7.83 and pays a dividend yield of 2.45%. Maximus has paid dividends for 22 consecutive years.
