Analysts Anticipate Accuray Incorporated (ARAY) to Post -$0.10 Earnings Per Share
Equities research analysts predict that Accuray Incorporated (NASDAQ:ARAY) will post earnings of ($0.10) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Accuray’s earnings. Accuray reported earnings per share of ($0.11) in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.1%. The business is expected to announce its next earnings results on Tuesday, January 30th.
On average, analysts expect that Accuray will report full year earnings of ($0.18) per share for the current financial year, with EPS estimates ranging from ($0.21) to ($0.15). For the next financial year, analysts anticipate that the company will report earnings of ($0.09) per share, with EPS estimates ranging from ($0.12) to ($0.05). Zacks’ EPS calculations are an average based on a survey of analysts that follow Accuray.
Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Tuesday, October 24th. The medical equipment provider reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02. The firm had revenue of $91.00 million for the quarter, compared to the consensus estimate of $88.26 million. Accuray had a negative net margin of 7.49% and a negative return on equity of 55.18%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) earnings per share.
ARAY has been the topic of several research reports. Zacks Investment Research raised shares of Accuray from a “strong sell” rating to a “hold” rating in a research note on Monday, July 17th. BidaskClub downgraded shares of Accuray from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Accuray in a research note on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $5.00 target price on shares of Accuray in a research note on Thursday, August 24th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Accuray in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.29.
In related news, COO Kelly Londy sold 99,136 shares of Accuray stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $4.24, for a total value of $420,336.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.90% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its position 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 valued at $379,000 after purchasing an additional 32,605 shares during the period. Wasatch Advisors Inc. increased its position in Accuray by 5.9% during the 3rd quarter. Wasatch Advisors Inc. now owns 291,716 shares of the medical equipment provider’s stock valued at $1,167,000 after purchasing an additional 16,216 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Accuray during the 3rd quarter valued at $191,000. Russell Investments Group Ltd. increased its position in Accuray by 28.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 995,904 shares of the medical equipment provider’s stock valued at $3,982,000 after purchasing an additional 222,424 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Accuray by 4.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 634,657 shares of the medical equipment provider’s stock valued at $2,538,000 after purchasing an additional 25,354 shares during the period. 75.47% of the stock is currently owned by institutional investors and hedge funds.
Accuray (NASDAQ:ARAY) opened at $4.50 on Tuesday. Accuray has a one year low of $3.60 and a one year high of $6.00. The company has a current ratio of 1.48, a quick ratio of 0.92 and a debt-to-equity ratio of 2.44.
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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