NEW YORK (TheStreet) -- Amedisys (AMED) shares are shooting up 17.9% to $15.86 on Friday after the company previewed its second quarter earnings results.
The health care company projected a surprise profit of between 15 cents and 20 cents per share on revenue of $300 million to $305 million. Analyst had expected the company to break even for the quarter on revenue of $299.6 million.
The improved outlook rests on cost cutting measures the company has undertaken during the quarter.
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TheStreet Ratings team rates AMEDISYS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMEDISYS INC (AMED) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow and feeble growth in its earnings per share."