Zacks: Analysts Anticipate Varex Imaging Corp (VREX) Will Post Earnings of $0.40 Per Share

Wall Street analysts forecast that Varex Imaging Corp (NASDAQ:VREX) will report earnings per share (EPS) of $0.40 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Varex Imaging’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.41. The business is expected to issue its next earnings results after the market closes on Thursday, February 1st.

On average, analysts expect that Varex Imaging will report full year earnings of $1.94 per share for the current fiscal year, with EPS estimates ranging from $1.82 to $2.06. For the next financial year, analysts anticipate that the business will post earnings of $2.21 per share, with EPS estimates ranging from $2.11 to $2.31. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Varex Imaging.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $216.00 million during the quarter, compared to the consensus estimate of $213.73 million. Varex Imaging’s quarterly revenue was up 25.5% compared to the same quarter last year.

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. raised Varex Imaging from an “underweight” rating to a “neutral” rating in a research note on Wednesday, December 20th. Zacks Investment Research raised Varex Imaging from a “strong sell” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Saturday, December 23rd. Finally, Jefferies Group increased their price objective on Varex Imaging to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 10th.

Varex Imaging (NASDAQ VREX) opened at $40.61 on Friday. Varex Imaging has a 52 week low of $25.00 and a 52 week high of $41.99. The company has a quick ratio of 1.72, a current ratio of 3.26 and a debt-to-equity ratio of 1.22.

In other Varex Imaging news, insider Sunny Sanyal sold 50,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $36.50, for a total transaction of $1,825,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of VREX. Schwab Charles Investment Management Inc. purchased a new stake in Varex Imaging during the second quarter worth $5,349,000. Prudential Financial Inc. purchased a new stake in Varex Imaging during the second quarter worth $2,144,000. Principal Financial Group Inc. purchased a new stake in Varex Imaging during the second quarter worth $12,001,000. Swiss National Bank purchased a new stake in Varex Imaging during the second quarter worth $2,175,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Varex Imaging during the second quarter worth $136,000. Institutional investors own 92.47% of the company’s stock.

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About Varex Imaging

Varex Imaging Corporation is a supplier of medical X-ray tubes and image processing solutions. The Company’s segments include Medical and Industrial. The X-ray imaging system manufacturers use the Company’s components for medical imaging, cargo screening and border security, to detect, diagnose and protect.

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