Wall Street brokerages expect Accuray Incorporated (NASDAQ:ARAY) to report earnings per share of $0.03 for the current quarter, according to Zacks. Two analysts have made estimates for Accuray’s earnings. The highest EPS estimate is $0.05 and the lowest is $0.01. Accuray posted earnings of ($0.01) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 400%. The business is expected to announce its next earnings report on Thursday, August 15th.
On average, analysts expect that Accuray will report full year earnings of ($0.16) per share for the current fiscal year, with EPS estimates ranging from ($0.20) to ($0.12). For the next year, analysts expect that the firm will report earnings of ($0.02) per share, with EPS estimates ranging from ($0.08) to $0.07. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Accuray.
Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Tuesday, April 23rd. The medical equipment provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $103.22 million during the quarter, compared to analyst estimates of $104.02 million. Accuray had a negative return on equity of 25.91% and a negative net margin of 3.85%.
Several brokerages have commented on ARAY. BidaskClub lowered Accuray from a “hold” rating to a “sell” rating in a research report on Saturday, May 18th. BTIG Research reissued a “hold” rating on shares of Accuray in a research report on Wednesday, April 24th. Finally, Zacks Investment Research upgraded Accuray from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a report on Thursday, February 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $5.13.
In other news, CEO Joshua Levine sold 6,604 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $4.54, for a total transaction of $29,982.16. Following the completion of the transaction, the chief executive officer now directly owns 1,033,593 shares in the company, valued at $4,692,512.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of ARAY. Norges Bank bought a new stake in Accuray in the 4th quarter worth about $3,287,000. D. E. Shaw & Co. Inc. increased its holdings in Accuray by 58.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,015,496 shares of the medical equipment provider’s stock worth $6,873,000 after buying an additional 741,493 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Accuray by 429.2% in the 1st quarter. Acadian Asset Management LLC now owns 746,860 shares of the medical equipment provider’s stock worth $3,562,000 after buying an additional 605,743 shares in the last quarter. Cadence Capital Management LLC bought a new stake in Accuray in the 1st quarter worth about $2,307,000. Finally, Millennium Management LLC increased its holdings in Accuray by 59.7% in the 4th quarter. Millennium Management LLC now owns 1,257,268 shares of the medical equipment provider’s stock worth $4,287,000 after buying an additional 470,087 shares in the last quarter. Hedge funds and other institutional investors own 79.93% of the company’s stock.
Accuray stock traded up $0.03 on Friday, hitting $3.97. 1,008,407 shares of the stock traded hands, compared to its average volume of 826,064. The company has a current ratio of 1.71, a quick ratio of 1.03 and a debt-to-equity ratio of 3.06. The firm has a market capitalization of $349.46 million, a P/E ratio of -14.18 and a beta of 1.97. Accuray has a 1 year low of $3.16 and a 1 year high of $5.40.
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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