HealthSouth Shares Fall On Revenue Miss (HLS)

Shares of rehabilitation hospital operator HealthSouth Corporation HLS are trading down more than 1% at $18.28 per share on Monday afternoon. The day's trading range for shares of HealthSouth Corporation (HLS) has been between $18.22 and $18.93 per share. Analysts covering the company's stock have a consensus price target of $24.08 per share. Volume of 912,000 shares is already above the daily average volume of 825,000 shares. HealthSouth Corporation released financial results on Monday morning that beat Wall Street earnings estimates but missed revenue expectations. HealthSouth Corporation announced 2nd quarter adjusted earnings of 44 cents per share, on revenue of $496.9 million. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 43 cents per share, on revenue of $505.51 million. Executive vice president and chief financial officer Doug Coltharp said, "We ended the quarter with in excess of $170 million of cash-on-hand and no borrowings under our $400 million revolving credit facility. The continued growth in our Adjusted Consolidated EBITDA resulted in further reduction in our leverage ratio to 4.1x at the end of June 2010." Read more from Benzinga's Company news.