Accuray Incorporated (NASDAQ:ARAY) Expected to Announce Earnings of -$0.08 Per Share

Equities research analysts expect that Accuray Incorporated (NASDAQ:ARAY) will report ($0.08) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Accuray’s earnings, with estimates ranging from ($0.12) to ($0.06). Accuray reported earnings of ($0.07) per share in the same quarter last year, which indicates a negative year over year growth rate of 14.3%. The business is expected to report its next earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that Accuray will report full year earnings of ($0.14) per share for the current financial year, with EPS estimates ranging from ($0.21) to ($0.03). For the next year, analysts forecast that the business will report earnings of $0.01 per share, with EPS estimates ranging from ($0.01) to $0.03. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Accuray.

Accuray (NASDAQ:ARAY) last posted its earnings results on Thursday, August 15th. The medical equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). Accuray had a negative net margin of 3.92% and a negative return on equity of 27.11%. The company had revenue of $117.42 million during the quarter, compared to analysts’ expectations of $116.09 million. During the same quarter last year, the firm earned ($0.01) EPS.

Several research firms have issued reports on ARAY. Royal Bank of Canada set a $4.00 target price on Accuray and gave the company a “hold” rating in a research note on Friday, August 16th. BidaskClub lowered Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $4.47.

In other Accuray news, CEO Joshua Levine sold 56,426 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $3.75, for a total value of $211,597.50. Following the completion of the sale, the chief executive officer now owns 977,167 shares of the company’s stock, valued at $3,664,376.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Andrew J. Kirkpatrick sold 8,222 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $3.75, for a total value of $30,832.50. Following the completion of the sale, the insider now directly owns 232,414 shares of the company’s stock, valued at approximately $871,552.50. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in shares of Accuray by 1,821.8% during the second quarter. SG Americas Securities LLC now owns 197,890 shares of the medical equipment provider’s stock worth $766,000 after purchasing an additional 187,593 shares during the period. Bailard Inc. lifted its holdings in shares of Accuray by 28.6% during the second quarter. Bailard Inc. now owns 27,400 shares of the medical equipment provider’s stock worth $106,000 after purchasing an additional 6,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Accuray by 46.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 223,116 shares of the medical equipment provider’s stock worth $1,064,000 after purchasing an additional 70,666 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Accuray by 429.2% during the first quarter. Acadian Asset Management LLC now owns 746,860 shares of the medical equipment provider’s stock worth $3,562,000 after purchasing an additional 605,743 shares during the period. Finally, Lapides Asset Management LLC lifted its holdings in shares of Accuray by 8.8% during the first quarter. Lapides Asset Management LLC now owns 1,070,700 shares of the medical equipment provider’s stock worth $5,107,000 after purchasing an additional 86,900 shares during the period. 81.23% of the stock is owned by institutional investors and hedge funds.

ARAY traded down $0.13 on Friday, hitting $2.61. The company had a trading volume of 521,843 shares, compared to its average volume of 727,312. The stock has a fifty day moving average price of $3.61 and a 200-day moving average price of $4.16. Accuray has a 12-month low of $2.35 and a 12-month high of $5.40. The company has a debt-to-equity ratio of 3.06, a quick ratio of 1.03 and a current ratio of 1.71. The stock has a market capitalization of $244.71 million, a price-to-earnings ratio of -17.40 and a beta of 1.84.

Accuray Company Profile

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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