Brokerages Expect Accuray Incorporated (NASDAQ:ARAY) Will Announce Earnings of -$0.10 Per Share
Brokerages forecast that Accuray Incorporated (NASDAQ:ARAY) will report earnings of ($0.10) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Accuray’s earnings. The highest EPS estimate is ($0.06) and the lowest is ($0.12). Accuray posted earnings per share of ($0.07) in the same quarter last year, which suggests a negative year over year growth rate of 42.9%. The business is expected to announce its next earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that Accuray will report full year earnings of ($0.14) per share for the current financial year, with EPS estimates ranging from ($0.21) to ($0.03). For the next year, analysts anticipate that the firm will post earnings of $0.01 per share, with EPS estimates ranging from ($0.01) to $0.03. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Accuray.
Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Thursday, August 15th. The medical equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The business had revenue of $117.42 million during the quarter, compared to the consensus estimate of $116.09 million. Accuray had a negative net margin of 3.92% and a negative return on equity of 26.69%. During the same period in the previous year, the business posted ($0.01) earnings per share.
In other news, insider Andrew J. Kirkpatrick sold 8,222 shares of Accuray stock in a transaction on Monday, July 1st. The shares were sold at an average price of $3.75, for a total transaction of $30,832.50. Following the transaction, the insider now directly owns 232,414 shares of the company’s stock, valued at $871,552.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joshua Levine sold 56,426 shares of Accuray stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $3.75, for a total transaction of $211,597.50. Following the transaction, the chief executive officer now directly owns 977,167 shares in the company, valued at $3,664,376.25. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Boston Partners raised its holdings in shares of Accuray by 70.6% during the second quarter. Boston Partners now owns 860,091 shares of the medical equipment provider’s stock worth $3,329,000 after acquiring an additional 355,855 shares during the period. Royal Bank of Canada raised its holdings in shares of Accuray by 376.1% during the second quarter. Royal Bank of Canada now owns 6,547 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 5,172 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Accuray during the second quarter worth $2,785,000. UBS Asset Management Americas Inc. raised its holdings in shares of Accuray by 11.8% during the second quarter. UBS Asset Management Americas Inc. now owns 125,620 shares of the medical equipment provider’s stock worth $486,000 after acquiring an additional 13,221 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Accuray during the second quarter worth $42,000. Institutional investors and hedge funds own 79.04% of the company’s stock.
Shares of NASDAQ ARAY traded up $0.10 during midday trading on Monday, reaching $3.13. 580,323 shares of the stock were exchanged, compared to its average volume of 745,410. The business has a 50-day simple moving average of $3.14 and a two-hundred day simple moving average of $3.90. The company has a market capitalization of $277.88 million, a price-to-earnings ratio of -20.87 and a beta of 1.96. Accuray has a 12 month low of $2.35 and a 12 month high of $5.40. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.79 and a quick ratio of 1.16.
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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