Accuray Incorporated (NASDAQ:ARAY) Expected to Announce Earnings of -$0.01 Per Share

Equities research analysts expect that Accuray Incorporated (NASDAQ:ARAY) will announce earnings of ($0.01) per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Accuray’s earnings. Accuray also posted earnings per share of ($0.01) during the same quarter last year. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, August 11th.

According to Zacks, analysts expect that Accuray will report full-year earnings of $0.03 per share for the current year, with EPS estimates ranging from $0.01 to $0.04. For the next year, analysts forecast that the company will report earnings of $0.08 per share, with EPS estimates ranging from $0.02 to $0.11. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover Accuray.

Separately, Zacks Investment Research lowered Accuray from a “hold” rating to a “sell” rating and set a $5.00 price target on the stock. in a research report on Thursday, April 29th.

A number of hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC increased its position in Accuray by 24.6% in the 1st quarter. Lazard Asset Management LLC now owns 14,496 shares of the medical equipment provider’s stock worth $71,000 after purchasing an additional 2,859 shares during the last quarter. California State Teachers Retirement System increased its position in Accuray by 2.4% in the 1st quarter. California State Teachers Retirement System now owns 138,444 shares of the medical equipment provider’s stock worth $685,000 after purchasing an additional 3,240 shares during the last quarter. Citigroup Inc. increased its position in Accuray by 10.8% in the 1st quarter. Citigroup Inc. now owns 38,897 shares of the medical equipment provider’s stock worth $193,000 after purchasing an additional 3,780 shares during the last quarter. Advisory Services Network LLC increased its position in Accuray by 15.1% in the 1st quarter. Advisory Services Network LLC now owns 33,450 shares of the medical equipment provider’s stock worth $166,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Dorsey Wright & Associates increased its position in Accuray by 135.0% in the 1st quarter. Dorsey Wright & Associates now owns 7,990 shares of the medical equipment provider’s stock worth $40,000 after purchasing an additional 4,590 shares during the last quarter. 73.84% of the stock is currently owned by institutional investors.

NASDAQ:ARAY traded down $0.04 during trading hours on Friday, hitting $4.14. 400 shares of the company’s stock traded hands, compared to its average volume of 477,960. The stock has a market cap of $386.10 million, a price-to-earnings ratio of 103.53 and a beta of 1.87. Accuray has a twelve month low of $2.17 and a twelve month high of $6.01. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.15 and a current ratio of 1.86. The stock has a fifty day moving average price of $4.40.

Accuray Company Profile

Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body in the Americas, Europe, the Middle East, India, Japan, Africa, and rest of the Asia Pacific region. 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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Earnings History and Estimates for Accuray (NASDAQ:ARAY)

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