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.

A number of brokerages have recently weighed in on ARAY. BidaskClub raised shares of Accuray from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 10th. Royal Bank of Canada set a $4.00 price target on shares of Accuray and gave the stock a “hold” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.47.

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.

About Accuray

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.

Featured Article: What are no-load funds?

Get a free copy of the Zacks research report on Accuray (ARAY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Accuray (NASDAQ:ARAY)

Receive News & Ratings for Accuray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accuray and related companies with MarketBeat.com's FREE daily email newsletter.