Varex Imaging (NASDAQ:VREX) Releases Q3 Earnings Guidance

Varex Imaging (NASDAQ:VREX) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.05 to $0.25 for the period, compared to the consensus earnings per share estimate of $0.30. The company issued revenue guidance of $200 million to $220 million, compared to the consensus revenue estimate of $224.50 million.

Wall Street Analyst Weigh In

Separately, TheStreet lowered Varex Imaging from a b- rating to a c rating in a research note on Tuesday, February 6th.

Varex Imaging Price Performance

Shares of NASDAQ:VREX traded down $0.84 on Friday, hitting $15.59. The company’s stock had a trading volume of 1,030,491 shares, compared to its average volume of 267,226. The company has a 50-day simple moving average of $17.32 and a 200 day simple moving average of $18.50. Varex Imaging has a 1 year low of $14.56 and a 1 year high of $23.90. The company has a market capitalization of $632.95 million, a PE ratio of 17.52, a PEG ratio of 2.25 and a beta of 0.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.30 and a quick ratio of 2.37.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). Varex Imaging had a net margin of 4.90% and a return on equity of 8.34%. The business had revenue of $206.20 million during the quarter, compared to analysts’ expectations of $205.15 million. During the same period in the previous year, the business earned $0.26 EPS. The business’s revenue was down 9.6% on a year-over-year basis. Sell-side analysts forecast that Varex Imaging will post 0.99 EPS for the current fiscal year.

About Varex Imaging

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.