-$0.02 EPS Expected for Accuray Incorporated (NASDAQ:ARAY) This Quarter

Wall Street brokerages expect Accuray Incorporated (NASDAQ:ARAY) to post earnings of ($0.02) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Accuray’s earnings, with the highest EPS estimate coming in at $0.00 and the lowest estimate coming in at ($0.05). Accuray posted earnings per share of ($0.01) in the same quarter last year, which would suggest a negative year-over-year growth rate of 100%. The company is expected to report its next earnings results on Tuesday, April 28th.

On average, analysts expect that Accuray will report full-year earnings of $0.03 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.05. For the next year, analysts forecast that the business will post earnings of ($0.05) per share, with EPS estimates ranging from ($0.18) to $0.05. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Accuray.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Tuesday, January 28th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.19. The business had revenue of $98.83 million during the quarter, compared to analysts’ expectations of $98.45 million. Accuray had a negative return on equity of 23.59% and a negative net margin of 0.30%. During the same period in the previous year, the company posted ($0.05) earnings per share.

Several equities research analysts recently issued reports on the company. BidaskClub cut Accuray from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. BTIG Research upgraded Accuray from a “neutral” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Tuesday, January 21st. Finally, TheStreet upgraded Accuray from a “d” rating to a “c-” rating in a research note on Tuesday, January 28th.

Shares of ARAY stock traded down $0.02 during trading on Friday, hitting $3.07. The company had a trading volume of 844,661 shares, compared to its average volume of 770,102. The company has a debt-to-equity ratio of 3.77, a quick ratio of 1.16 and a current ratio of 1.90. The firm has a market capitalization of $279.55 million, a P/E ratio of -153.42 and a beta of 1.96. The stock’s 50-day moving average price is $3.44 and its 200 day moving average price is $2.98. Accuray has a one year low of $2.35 and a one year high of $5.21.

In other Accuray news, CEO Joshua Levine sold 17,587 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $2.88, for a total transaction of $50,650.56. Also, CFO Shigeyuki Hamamatsu sold 10,563 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $2.70, for a total transaction of $28,520.10. Following the transaction, the chief financial officer now owns 185,644 shares of the company’s stock, valued at $501,238.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,068 shares of company stock valued at $84,695. Company insiders own 3.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its position in Accuray by 25.8% during the third quarter. Russell Investments Group Ltd. now owns 2,854,307 shares of the medical equipment provider’s stock valued at $7,909,000 after purchasing an additional 585,024 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Accuray during the fourth quarter valued at approximately $1,252,000. California Public Employees Retirement System raised its position in Accuray by 7.0% during the third quarter. California Public Employees Retirement System now owns 68,131 shares of the medical equipment provider’s stock valued at $189,000 after purchasing an additional 4,477 shares in the last quarter. Zebra Capital Management LLC acquired a new position in Accuray during the third quarter valued at approximately $32,000. Finally, Parallel Advisors LLC acquired a new position in shares of Accuray during the third quarter worth $342,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

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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Earnings History and Estimates for Accuray (NASDAQ:ARAY)

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