-$0.11 Earnings Per Share Expected for Accuray Incorporated (ARAY) This Quarter

Wall Street brokerages expect Accuray Incorporated (NASDAQ:ARAY) to post earnings of ($0.11) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Accuray’s earnings, with the lowest EPS estimate coming in at ($0.11) and the highest estimate coming in at ($0.10). Accuray also reported earnings of ($0.11) per share in the same quarter last year. The firm is scheduled to report its next earnings results after the market closes on Tuesday, January 23rd.

According to Zacks, analysts expect that Accuray will report full year earnings of ($0.26) per share for the current year, with EPS estimates ranging from ($0.32) to ($0.21). For the next financial year, analysts anticipate that the business will report earnings of ($0.09) per share, with EPS estimates ranging from ($0.12) to ($0.06). Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Accuray.

Accuray (NASDAQ:ARAY) last announced its earnings results on Tuesday, October 24th. The medical equipment provider reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. The company had revenue of $91.00 million for the quarter, compared to analyst estimates of $88.26 million. Accuray had a negative return on equity of 55.18% and a negative net margin of 7.49%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) earnings per share.

A number of brokerages have recently weighed in on ARAY. Lake Street Capital began coverage on Accuray in a research note on Thursday, November 30th. They set a “buy” rating and a $10.00 target price on the stock. JPMorgan Chase & Co. lowered Accuray from a “neutral” rating to an “underweight” rating and set a $6.00 target price on the stock. in a research note on Wednesday, December 13th. BidaskClub lowered Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Cowen reiterated a “buy” rating and set a $9.00 target price on shares of Accuray in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded Accuray from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $6.82.

In other Accuray news, CEO Joshua Levine sold 17,093 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $4.86, for a total transaction of $83,071.98. Following the transaction, the chief executive officer now owns 1,435,428 shares in the company, valued at approximately $6,976,180.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Waters sold 7,154 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $5.06, for a total value of $36,199.24. Following the transaction, the chief financial officer now owns 335,087 shares in the company, valued at approximately $1,695,540.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,413 shares of company stock worth $129,798. Corporate insiders own 3.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its stake in Accuray by 14.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 422,245 shares of the medical equipment provider’s stock worth $1,816,000 after acquiring an additional 51,917 shares during the period. Neuberger Berman Group LLC increased its stake in Accuray by 9.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 5,272,695 shares of the medical equipment provider’s stock worth $21,091,000 after acquiring an additional 473,008 shares during the period. Vident Investment Advisory LLC increased its stake in Accuray by 75.4% during the 3rd quarter. Vident Investment Advisory LLC now owns 4,899,643 shares of the medical equipment provider’s stock worth $19,599,000 after acquiring an additional 2,106,215 shares during the period. Sectoral Asset Management Inc increased its stake in Accuray by 16.9% during the 3rd quarter. Sectoral Asset Management Inc now owns 687,547 shares of the medical equipment provider’s stock worth $2,750,000 after acquiring an additional 99,200 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Accuray by 52.5% during the 3rd quarter. Wells Fargo & Company MN now owns 94,664 shares of the medical equipment provider’s stock worth $379,000 after acquiring an additional 32,605 shares during the period. Hedge funds and other institutional investors own 78.52% of the company’s stock.

Shares of Accuray (ARAY) traded down $0.15 during midday trading on Monday, hitting $5.15. The stock had a trading volume of 814,494 shares, compared to its average volume of 1,040,079. The company has a market capitalization of $431.34, a price-to-earnings ratio of -14.71 and a beta of 1.29. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.92 and a current ratio of 1.48. Accuray has a one year low of $3.60 and a one year high of $6.00.

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Accuray Company Profile

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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Earnings History and Estimates for Accuray (NASDAQ:ARAY)

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