Analysts Expect Profound Medical Corp. (NASDAQ:PROF) to Announce -$0.24 EPS

Wall Street analysts expect Profound Medical Corp. (NASDAQ:PROF) to announce earnings of ($0.24) per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Profound Medical’s earnings. The lowest EPS estimate is ($0.26) and the highest is ($0.22). Profound Medical reported earnings per share of ($0.19) during the same quarter last year, which would suggest a negative year-over-year growth rate of 26.3%. The company is expected to issue its next earnings results on Thursday, May 6th.

According to Zacks, analysts expect that Profound Medical will report full-year earnings of ($0.81) per share for the current financial year, with EPS estimates ranging from ($0.95) to ($0.51). For the next financial year, analysts expect that the company will post earnings of ($0.37) per share, with EPS estimates ranging from ($0.68) to $0.03. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Profound Medical.

Profound Medical (NASDAQ:PROF) last released its earnings results on Tuesday, March 2nd. The company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.11). Profound Medical had a negative return on equity of 33.69% and a negative net margin of 275.12%. The company had revenue of $2.88 million for the quarter, compared to analyst estimates of $3.03 million.

Several research analysts recently commented on PROF shares. Zacks Investment Research raised Profound Medical from a “sell” rating to a “hold” rating in a research note on Tuesday, March 2nd. Alliance Global Partners upped their price objective on Profound Medical from $20.25 to $28.25 and gave the stock a “buy” rating in a research report on Thursday, January 7th. Raymond James reaffirmed a “strong-buy” rating and set a $34.00 price objective on shares of Profound Medical in a research report on Monday, March 29th. Leede Jones Gab reaffirmed a “buy” rating on shares of Profound Medical in a research report on Thursday, March 4th. Finally, Lake Street Capital upped their price objective on Profound Medical from $27.00 to $32.00 in a research report on Monday, January 25th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Profound Medical presently has a consensus rating of “Buy” and a consensus price target of $27.06.

PROF traded down $0.16 on Thursday, hitting $19.82. 36,708 shares of the company were exchanged, compared to its average volume of 84,200. Profound Medical has a twelve month low of $11.06 and a twelve month high of $28.97. The company has a market cap of $402.15 million, a price-to-earnings ratio of -16.94 and a beta of 1.45. The firm has a 50-day moving average price of $21.39 and a two-hundred day moving average price of $21.46.

Institutional investors have recently bought and sold shares of the company. Letko Brosseau & Associates Inc. raised its stake in Profound Medical by 1,725.4% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 839,700 shares of the company’s stock valued at $17,262,000 after acquiring an additional 793,700 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in Profound Medical during the 3rd quarter valued at approximately $12,260,000. Royce & Associates LP raised its stake in Profound Medical by 2,910.0% during the 4th quarter. Royce & Associates LP now owns 301,000 shares of the company’s stock valued at $6,193,000 after acquiring an additional 291,000 shares during the last quarter. Blackcrane Capital LLC raised its stake in shares of Profound Medical by 73.6% during the 4th quarter. Blackcrane Capital LLC now owns 341,767 shares of the company’s stock worth $7,029,000 after buying an additional 144,843 shares in the last quarter. Finally, Zweig DiMenna Associates LLC raised its stake in shares of Profound Medical by 54.6% during the 4th quarter. Zweig DiMenna Associates LLC now owns 182,589 shares of the company’s stock worth $3,754,000 after buying an additional 64,500 shares in the last quarter. 35.90% of the stock is owned by institutional investors and hedge funds.

About Profound Medical

Profound Medical Corp., together with its subsidiaries, operates as a medical technology company that develops magnetic resonance guided ablation procedures for treatment of prostate disease, uterine fibroids, and palliative pain treatment in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system used for magnetic resonance imaging scanner in hospitals and treatment facilities.

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