Zacks: Brokerages Expect Accuray Incorporated (NASDAQ:ARAY) to Post $0.02 Earnings Per Share

Equities research analysts expect Accuray Incorporated (NASDAQ:ARAY) to report earnings per share of $0.02 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Accuray’s earnings. The highest EPS estimate is $0.02 and the lowest is $0.01. Accuray reported earnings of ($0.02) per share during the same quarter last year, which indicates a positive year over year growth rate of 200%. The business is scheduled to issue its next earnings report on Thursday, August 20th.

On average, analysts expect that Accuray will report full-year earnings of $0.02 per share for the current financial year, with EPS estimates ranging from ($0.08) to $0.09. For the next year, analysts anticipate that the business will report earnings of ($0.05) per share, with EPS estimates ranging from ($0.26) to $0.11. Zacks’ EPS calculations are an average based on a survey of analysts that cover Accuray.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.07. The firm had revenue of $99.55 million for the quarter, compared to analysts’ expectations of $96.46 million. Accuray had a negative return on equity of 14.83% and a net margin of 0.64%.

A number of research analysts recently commented on ARAY shares. BidaskClub cut Accuray from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 10th. ValuEngine upgraded Accuray from a “hold” rating to a “buy” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.75.

A number of institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC bought a new position in Accuray in the first quarter valued at about $29,000. Voce Capital Management LLC bought a new position in Accuray in the first quarter valued at about $991,000. Two Sigma Advisers LP grew its position in Accuray by 2.5% in the first quarter. Two Sigma Advisers LP now owns 221,513 shares of the medical equipment provider’s stock valued at $421,000 after acquiring an additional 5,500 shares during the last quarter. Wells Fargo & Company MN grew its position in Accuray by 19.7% in the first quarter. Wells Fargo & Company MN now owns 191,858 shares of the medical equipment provider’s stock valued at $364,000 after acquiring an additional 31,618 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in Accuray in the first quarter valued at about $40,000. Hedge funds and other institutional investors own 72.16% of the company’s stock.

Shares of NASDAQ ARAY traded up $0.01 during mid-day trading on Tuesday, reaching $2.10. The company had a trading volume of 416,905 shares, compared to its average volume of 517,736. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.20 and a current ratio of 1.95. Accuray has a one year low of $1.33 and a one year high of $4.68. The firm has a market cap of $190.09 million, a price-to-earnings ratio of 105.05 and a beta of 2.03. The business’s 50-day simple moving average is $2.01 and its 200 day simple moving average is $2.62.

Accuray Company Profile

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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Earnings History and Estimates for Accuray (NASDAQ:ARAY)

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