Varex Imaging (NASDAQ:VREX) Posts Quarterly Earnings Results, Beats Estimates By $0.17 EPS
Varex Imaging (NASDAQ:VREX) announced its quarterly earnings data on Tuesday. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.17, MarketWatch Earnings reports. Varex Imaging had a negative net margin of 2.89% and a positive return on equity of 4.93%. The firm had revenue of $203.50 million for the quarter, compared to analyst estimates of $187.30 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Varex Imaging updated its Q3 2021 guidance to 0.150-0.350 EPS and its Q3 guidance to $0.15-0.35 EPS.
VREX stock traded down $0.05 during trading on Tuesday, reaching $23.98. The stock had a trading volume of 347,855 shares, compared to its average volume of 334,595. Varex Imaging has a one year low of $10.36 and a one year high of $26.42. The company has a quick ratio of 1.12, a current ratio of 2.60 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $22.25 and its two-hundred day moving average is $19.21. The company has a market capitalization of $940.02 million, a price-to-earnings ratio of -42.07, a P/E/G ratio of 6.95 and a beta of 0.86.
A number of equities research analysts recently weighed in on VREX shares. Zacks Investment Research lowered shares of Varex Imaging from a “buy” rating to a “hold” rating in a report on Thursday, April 8th. Oppenheimer upgraded shares of Varex Imaging from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Friday, February 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Varex Imaging currently has an average rating of “Hold” and a consensus price target of $27.80.
Varex Imaging Company Profile
Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, 3D reconstruction and computer-aided diagnostic software, collimators, automatic exposure control devices, generators, heat exchangers, ionization chambers, and buckys (a component of X-ray units that holds X-ray film cassettes).
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