Abaxis (ABAX) Announces Quarterly Earnings, Misses Expectations By $0.06 EPS
Abaxis (NASDAQ:ABAX) issued its quarterly earnings data on Friday. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.06, American Banking and Market News reports. The company had revenue of $40.00 million for the quarter, compared to the consensus estimate of $49.47 million.
A number of research firms have recently commented on ABAX. Analysts at Feltl & Co. downgraded shares of Abaxis from a “hold” rating to a “sell” rating in a research note to investors on Thursday. On a related note, analysts at Zacks downgraded shares of Abaxis from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, December 11th. They now have a $33.00 price target on the stock. Finally, analysts at Merrill Lynch upgraded shares of Abaxis from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, November 4th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.50.
Abaxis (NASDAQ:ABAX) opened at 38.04 on Friday. Abaxis has a one year low of $32.11 and a one year high of $51.84. The stock’s 50-day moving average is $40.56 and its 200-day moving average is $39.81. The company has a market cap of $847.2 million and a price-to-earnings ratio of 47.39.
Abaxis, Inc develops portable multitest analyzer based on established principles of centrifugal analysis.
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