Accuray (ARAY) Issues Quarterly Earnings Results
Accuray (NASDAQ:ARAY) posted its quarterly earnings data on Thursday. The medical equipment provider reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01, RTT News reports. The firm had revenue of $113.79 million during the quarter, compared to the consensus estimate of $108.45 million. Accuray had a negative return on equity of 52.91% and a negative net margin of 7.00%. During the same period in the prior year, the business earned ($0.04) EPS.
ARAY opened at $3.87 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 3.00. The company has a market cap of $329.71 million, a price-to-earnings ratio of -10.42 and a beta of 1.64. Accuray has a 52 week low of $3.20 and a 52 week high of $6.15.
Several research firms have commented on ARAY. BidaskClub downgraded Accuray from a “sell” rating to a “strong sell” rating in a research note on Friday. Citigroup reduced their price objective on Accuray from $4.00 to $3.50 and set a “sell” rating for the company in a research note on Friday. ValuEngine raised Accuray from a “sell” rating to a “hold” rating in a research note on Friday, May 18th. Finally, Zacks Investment Research raised Accuray from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.68.
Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.
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