Brokerages Expect Accuray Incorporated (ARAY) Will Announce Earnings of -$0.06 Per Share

Analysts expect Accuray Incorporated (NASDAQ:ARAY) to announce earnings of ($0.06) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Accuray’s earnings. Accuray also reported earnings per share of ($0.06) during the same quarter last year. The business is scheduled to issue its next earnings results on Tuesday, January 22nd.

On average, analysts expect that Accuray will report full-year earnings of ($0.14) per share for the current fiscal year, with EPS estimates ranging from ($0.24) to ($0.02). For the next financial year, analysts anticipate that the company will report earnings of $0.09 per share, with EPS estimates ranging from $0.02 to $0.16. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Accuray.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Tuesday, October 30th. The medical equipment provider reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.02). The company had revenue of $95.83 million during the quarter, compared to analysts’ expectations of $95.10 million. Accuray had a negative return on equity of 42.24% and a negative net margin of 5.79%. During the same period in the prior year, the business earned ($0.11) EPS.

Several research firms recently commented on ARAY. Citigroup raised shares of Accuray from a “sell” rating to a “neutral” rating and raised their price target for the stock from $3.50 to $3.90 in a research note on Thursday, November 1st. BTIG Research reissued a “hold” rating on shares of Accuray in a research report on Wednesday, August 22nd. Jefferies Financial Group reissued a “buy” rating and set a $6.00 target price on shares of Accuray in a research report on Friday, August 17th. Finally, BidaskClub downgraded shares of Accuray from a “sell” rating to a “strong sell” rating in a research report on Friday, August 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $6.36.

In other Accuray news, CEO Joshua Levine bought 25,000 shares of the business’s stock in a transaction on Monday, November 5th. The shares were acquired at an average price of $4.75 per share, with a total value of $118,750.00. Following the transaction, the chief executive officer now owns 1,356,036 shares of the company’s stock, valued at approximately $6,441,171. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Shigeyuki Hamamatsu sold 8,762 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $4.48, for a total transaction of $39,253.76. Following the completion of the sale, the chief financial officer now owns 116,238 shares in the company, valued at $520,746.24. The disclosure for this sale can be found here. Insiders have sold a total of 48,378 shares of company stock worth $218,502 in the last three months. Insiders own 3.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in shares of Accuray by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 1,366,100 shares of the medical equipment provider’s stock valued at $6,147,000 after buying an additional 119,149 shares in the last quarter. Putnam Investments LLC bought a new stake in shares of Accuray in the 3rd quarter valued at about $1,337,000. Vident Investment Advisory LLC boosted its holdings in shares of Accuray by 2.3% in the 3rd quarter. Vident Investment Advisory LLC now owns 2,233,056 shares of the medical equipment provider’s stock valued at $10,049,000 after buying an additional 49,156 shares in the last quarter. Paloma Partners Management Co boosted its holdings in shares of Accuray by 754.8% in the 3rd quarter. Paloma Partners Management Co now owns 92,900 shares of the medical equipment provider’s stock valued at $418,000 after buying an additional 82,032 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Accuray by 110.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 42,993 shares of the medical equipment provider’s stock valued at $193,000 after buying an additional 22,544 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

ARAY stock traded down $0.16 during trading on Friday, hitting $4.35. The company had a trading volume of 30,738 shares, compared to its average volume of 971,314. The company has a market capitalization of $390.84 million, a PE ratio of -15.32 and a beta of 1.60. Accuray has a 52-week low of $3.20 and a 52-week high of $6.15. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.69 and a quick ratio of 0.96.

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.

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