Accuray (NASDAQ:ARAY) Releases Earnings Results, Misses Estimates By $0.05 EPS

Accuray (NASDAQ:ARAY) issued its earnings results on Wednesday. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05), Yahoo Finance reports. Accuray had a negative return on equity of 28.11% and a negative net margin of 3.25%. The firm had revenue of $101.13 million for the quarter, compared to analyst estimates of $114.60 million. During the same period in the previous year, the company earned $0.01 earnings per share. Accuray updated its FY 2024 guidance to EPS.

Accuray Stock Down 28.1 %

NASDAQ ARAY traded down $0.61 on Thursday, reaching $1.56. The company had a trading volume of 3,444,199 shares, compared to its average volume of 484,732. The stock has a market capitalization of $154.71 million, a P/E ratio of -11.13 and a beta of 1.48. The company’s fifty day moving average is $2.45 and its 200 day moving average is $2.63. Accuray has a 52-week low of $1.51 and a 52-week high of $4.30. The company has a quick ratio of 0.84, a current ratio of 1.58 and a debt-to-equity ratio of 3.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ARAY shares. TheStreet lowered Accuray from a “c-” rating to a “d+” rating in a research report on Wednesday, February 14th. Roth Mkm started coverage on Accuray in a research report on Tuesday, February 13th. They set a “buy” rating and a $9.00 target price on the stock. Finally, Roth Capital reaffirmed a “buy” rating on shares of Accuray in a research report on Tuesday, February 13th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Accuray currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.25.

About Accuray

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.