Varex Imaging Corp (NASDAQ:VREX) Expected to Post Earnings of $0.31 Per Share

Brokerages expect Varex Imaging Corp (NASDAQ:VREX) to post earnings of $0.31 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Varex Imaging’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.34. Varex Imaging posted earnings per share of $0.34 during the same quarter last year, which would suggest a negative year over year growth rate of 8.8%. The business is scheduled to announce its next earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Varex Imaging will report full year earnings of $1.36 per share for the current fiscal year, with EPS estimates ranging from $1.35 to $1.36. For the next fiscal year, analysts expect that the company will report earnings of $1.49 per share, with EPS estimates ranging from $1.40 to $1.57. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Varex Imaging.

Varex Imaging (NASDAQ:VREX) last posted its earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Varex Imaging had a return on equity of 10.93% and a net margin of 1.65%. The firm had revenue of $195.80 million during the quarter, compared to analyst estimates of $194.76 million. During the same period in the previous year, the company earned $0.45 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis.

Several equities research analysts recently weighed in on VREX shares. Northland Securities started coverage on Varex Imaging in a report on Tuesday, March 19th. They issued an “outperform” rating and a $42.00 target price for the company. Zacks Investment Research upgraded Varex Imaging from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Saturday, May 11th. Finally, CJS Securities upgraded Varex Imaging from a “market perform” rating to an “outperform” rating in a report on Tuesday, June 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Varex Imaging presently has a consensus rating of “Buy” and an average target price of $34.60.

VREX traded down $0.60 on Thursday, hitting $29.68. The company had a trading volume of 2,363 shares, compared to its average volume of 266,421. The stock’s fifty day simple moving average is $28.72. Varex Imaging has a 1-year low of $21.57 and a 1-year high of $39.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.13 and a current ratio of 2.80. The company has a market capitalization of $1.18 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 2.28 and a beta of 1.80.

In other news, SVP Kimberley E. Honeysett sold 916 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $30.00, for a total transaction of $27,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 1,756 shares of company stock valued at $52,058. Corporate insiders own 2.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. NumerixS Investment Technologies Inc increased its position in shares of Varex Imaging by 125.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the company’s stock valued at $43,000 after purchasing an additional 1,000 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Varex Imaging by 62.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,849 shares of the company’s stock valued at $44,000 after purchasing an additional 712 shares during the period. Quadrant Capital Group LLC increased its position in shares of Varex Imaging by 478.6% during the first quarter. Quadrant Capital Group LLC now owns 1,678 shares of the company’s stock valued at $55,000 after purchasing an additional 1,388 shares during the period. Advisor Group Inc. increased its position in shares of Varex Imaging by 35.5% during the fourth quarter. Advisor Group Inc. now owns 3,725 shares of the company’s stock valued at $87,000 after purchasing an additional 975 shares during the period. Finally, Wealth Architects LLC bought a new stake in shares of Varex Imaging during the first quarter valued at approximately $206,000. Institutional investors own 93.88% of the company’s stock.

Varex Imaging Company Profile

Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.

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