Abaxis (ABAX) Getting Somewhat Favorable Media Coverage, Analysis Finds
Media stories about Abaxis (NASDAQ:ABAX) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Abaxis earned a media sentiment score of 0.25 on Accern’s scale. Accern also gave media coverage about the medical research company an impact score of 46.2090944642283 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the news headlines that may have effected Accern Sentiment’s analysis:
- FY2018 Earnings Forecast for Abaxis Inc (ABAX) Issued By Northcoast Research (americanbankingnews.com)
- Abaxis Inc. (ABAX) Has Jumped To A New High On Q3 Forecast (nasdaq.com)
- Abaxis Reports Preliminary Financial Performance for the Third Quarter of Fiscal 2018 (finance.yahoo.com)
- Zeltiq Aesthetics (ZLTQ) and Abaxis (ABAX) Head to Head Comparison (americanbankingnews.com)
- Abaxis (ABAX) Rating Lowered to Sell at Zacks Investment Research (americanbankingnews.com)
ABAX has been the topic of several recent research reports. UBS Group upgraded Abaxis from an “underperform” rating to a “market perform” rating in a research report on Tuesday. Raymond James Financial upgraded Abaxis from an “underperform” rating to a “market perform” rating in a research report on Tuesday. Zacks Investment Research cut Abaxis from a “hold” rating to a “sell” rating in a research report on Monday. Northcoast Research upgraded Abaxis from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Finally, BidaskClub upgraded Abaxis from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $47.63.
Abaxis (NASDAQ:ABAX) last issued its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. Abaxis had a return on equity of 10.18% and a net margin of 11.98%. The company had revenue of $58.90 million for the quarter, compared to analysts’ expectations of $60.85 million. During the same quarter last year, the business earned $0.34 earnings per share. Abaxis’s revenue was up .5% on a year-over-year basis. equities analysts expect that Abaxis will post 1.08 earnings per share for the current year.
Abaxis declared that its Board of Directors has approved a share buyback program on Tuesday, October 24th that authorizes the company to repurchase $21.00 million in outstanding shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.16 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.04%. This is a boost from Abaxis’s previous quarterly dividend of $0.14. Abaxis’s dividend payout ratio (DPR) is presently 53.33%.
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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