Zacks: Analysts Expect Accuray Incorporated (ARAY) to Post -$0.07 Earnings Per Share
Equities analysts expect Accuray Incorporated (NASDAQ:ARAY) to post earnings of ($0.07) per share for the current quarter, according to Zacks. Two analysts have provided estimates for Accuray’s earnings, with the highest EPS estimate coming in at ($0.04) and the lowest estimate coming in at ($0.09). Accuray posted earnings per share of ($0.12) in the same quarter last year, which would suggest a positive year over year growth rate of 41.7%. The company is expected to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Accuray will report full-year earnings of ($0.15) per share for the current year, with EPS estimates ranging from ($0.19) to ($0.13). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.06) per share, with EPS estimates ranging from ($0.08) to ($0.03). Zacks’ EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Accuray.
Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Tuesday, August 22nd. The medical equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The business had revenue of $112.09 million for the quarter, compared to the consensus estimate of $112.00 million. Accuray had a negative return on equity of 61.62% and a negative net margin of 7.71%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) EPS.
ARAY has been the subject of a number of recent research reports. BidaskClub downgraded shares of Accuray from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and issued a $7.00 price objective on shares of Accuray in a report on Wednesday, August 9th. Royal Bank Of Canada reissued a “hold” rating and issued a $5.00 price objective on shares of Accuray in a report on Thursday, August 24th. Zacks Investment Research raised shares of Accuray from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. Finally, BTIG Research reissued a “hold” rating on shares of Accuray in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Accuray currently has an average rating of “Hold” and an average price target of $6.00.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in Accuray by 116.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 30,173 shares of the medical equipment provider’s stock valued at $143,000 after purchasing an additional 16,223 shares during the period. Bank of Nova Scotia bought a new stake in Accuray in the 2nd quarter valued at about $168,000. AHL Partners LLP boosted its holdings in Accuray by 28.4% in the 2nd quarter. AHL Partners LLP now owns 39,823 shares of the medical equipment provider’s stock valued at $189,000 after purchasing an additional 8,817 shares during the period. PEAK6 Investments L.P. bought a new stake in Accuray in the 1st quarter valued at about $193,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in Accuray by 253.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 41,697 shares of the medical equipment provider’s stock valued at $198,000 after purchasing an additional 29,900 shares during the period. 76.67% of the stock is owned by hedge funds and other institutional investors.
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Shares of Accuray (NASDAQ ARAY) traded up 2.38% on Thursday, reaching $4.30. 274,091 shares of the company’s stock were exchanged. Accuray has a 12 month low of $3.60 and a 12 month high of $6.05. The company’s market cap is $357.67 million. The firm’s 50-day moving average price is $4.18 and its 200 day moving average price is $4.37.
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.
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