Zacks: Brokerages Anticipate Accuray Incorporated (ARAY) Will Post Earnings of -$0.06 Per Share

Brokerages expect Accuray Incorporated (NASDAQ:ARAY) to post ($0.06) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Accuray’s earnings. Accuray also posted earnings per share of ($0.06) during the same quarter last year. The company is expected to report its next quarterly 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 year, with EPS estimates ranging from ($0.25) to ($0.02). For the next fiscal 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 calculations are an average based on a survey of sell-side analysts that cover Accuray.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Tuesday, October 30th. The medical equipment provider reported ($0.11) earnings per share 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 the consensus estimate of $95.10 million. Accuray had a negative net margin of 5.79% and a negative return on equity of 42.15%. During the same quarter in the previous year, the business earned ($0.11) EPS.

A number of equities research analysts have recently weighed in on ARAY shares. Jefferies Financial Group reiterated a “buy” rating and issued a $6.00 price target on shares of Accuray in a research report on Friday, August 17th. BidaskClub downgraded shares of Accuray from a “sell” rating to a “strong sell” rating in a research report on Friday, August 17th. Citigroup lowered their price objective on shares of Accuray from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Friday, August 17th. Finally, BTIG Research restated a “hold” rating on shares of Accuray in a research report on Wednesday, August 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $6.36.

Shares of NASDAQ ARAY traded up $0.06 during mid-day trading on Tuesday, hitting $4.75. The company had a trading volume of 1,290,177 shares, compared to its average volume of 1,180,440. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.68 and a quick ratio of 1.04. Accuray has a one year low of $3.20 and a one year high of $6.15. The stock has a market capitalization of $410.86 million, a price-to-earnings ratio of -16.96 and a beta of 1.60.

In other Accuray news, CFO Shigeyuki Hamamatsu sold 8,762 shares of the business’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $4.48, for a total transaction of $39,253.76. Following the sale, the chief financial officer now owns 116,238 shares of the company’s stock, valued at $520,746.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joshua Levine sold 18,742 shares of the business’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $4.69, for a total transaction of $87,899.98. Following the sale, the chief executive officer now directly owns 1,355,551 shares in the company, valued at approximately $6,357,534.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,378 shares of company stock worth $218,502. Insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. bought a new stake in shares of Accuray in the first quarter worth $107,000. First Trust Advisors LP boosted its position in Accuray by 113.1% during the second quarter. First Trust Advisors LP now owns 27,337 shares of the medical equipment provider’s stock valued at $112,000 after acquiring an additional 14,508 shares during the last quarter. KBC Group NV bought a new stake in Accuray during the second quarter valued at $112,000. Jane Street Group LLC bought a new stake in Accuray during the second quarter valued at $162,000. Finally, California Public Employees Retirement System boosted its position in Accuray by 37.5% during the second quarter. California Public Employees Retirement System now owns 75,522 shares of the medical equipment provider’s stock valued at $310,000 after acquiring an additional 20,600 shares during the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

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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