$0.29 Earnings Per Share Expected for ABAXIS, Inc. (ABAX) This Quarter
Wall Street analysts forecast that ABAXIS, Inc. (NASDAQ:ABAX) will post earnings per share (EPS) of $0.29 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for ABAXIS’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.27. ABAXIS posted earnings of $0.34 per share during the same quarter last year, which would indicate a negative year over year growth rate of 14.7%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that ABAXIS will report full-year earnings of $1.14 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.19. For the next year, analysts expect that the business will post earnings of $1.30 per share, with EPS estimates ranging from $1.23 to $1.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover ABAXIS.
ABAXIS (NASDAQ:ABAX) last released its quarterly earnings data on Thursday, July 27th. The medical research company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.05). ABAXIS had a return on equity of 10.85% and a net margin of 14.12%. The firm had revenue of $58.26 million during the quarter, compared to the consensus estimate of $60.37 million. During the same period in the previous year, the firm earned $0.30 EPS. The business’s revenue was up 1.0% compared to the same quarter last year.
A number of brokerages have commented on ABAX. Bank of America Corporation reissued an “underperform” rating and set a $42.00 target price on shares of ABAXIS in a report on Wednesday, August 23rd. BidaskClub cut ABAXIS from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research cut ABAXIS from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Stifel Nicolaus reissued a “hold” rating and set a $48.00 target price on shares of ABAXIS in a report on Friday, July 14th. Finally, Aegis began coverage on ABAXIS in a report on Friday, June 9th. They set a “hold” rating and a $56.50 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $48.63.
ABAXIS (NASDAQ ABAX) traded down 0.18% during mid-day trading on Friday, reaching $43.99. The company’s stock had a trading volume of 55,883 shares. The firm’s 50 day moving average is $46.03 and its 200-day moving average is $48.67. The company has a market cap of $998.13 million, a PE ratio of 31.07 and a beta of 0.81. ABAXIS has a 12-month low of $43.66 and a 12-month high of $55.95.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.27%. ABAXIS’s payout ratio is currently 39.72%.
Several institutional investors have recently made changes to their positions in ABAX. Victory Capital Management Inc. raised its holdings in shares of ABAXIS by 31.5% during the first quarter. Victory Capital Management Inc. now owns 2,188 shares of the medical research company’s stock valued at $106,000 after acquiring an additional 524 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of ABAXIS by 11.2% during the first quarter. SG Americas Securities LLC now owns 2,256 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 228 shares during the last quarter. Invictus RG acquired a new position in shares of ABAXIS during the first quarter valued at approximately $112,000. UBS Asset Management Americas Inc. raised its holdings in shares of ABAXIS by 8.7% during the first quarter. UBS Asset Management Americas Inc. now owns 4,129 shares of the medical research company’s stock valued at $200,000 after acquiring an additional 330 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of ABAXIS in the first quarter valued at approximately $206,000. 97.27% of the stock is owned by institutional investors and hedge funds.
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ABAXIS Company Profile
Abaxis, Inc is a developer, manufacturer and marketer of portable blood analysis systems that are used in medical specialties in human or veterinary patient care to provide clinicians with blood constituent measurements. The Company markets and sells its products around the world through independent distributors and direct sales force.
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