Accuray (NASDAQ:ARAY) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Accuray (NASDAQ:ARAY) announced its quarterly earnings data on Wednesday. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05), Yahoo Finance reports. Accuray had a negative net margin of 4.99% and a negative return on equity of 42.34%. The business had revenue of $101.13 million during the quarter, compared to the consensus estimate of $114.60 million. During the same quarter last year, the company earned $0.01 EPS. Accuray updated its FY 2024 guidance to EPS.

Accuray Price Performance

ARAY stock traded up $0.08 during trading on Friday, reaching $1.62. The company’s stock had a trading volume of 1,528,920 shares, compared to its average volume of 518,912. The company has a quick ratio of 0.84, a current ratio of 1.58 and a debt-to-equity ratio of 3.53. Accuray has a 1 year low of $1.51 and a 1 year high of $4.30. The company’s fifty day moving average is $2.43 and its 200-day moving average is $2.62. The company has a market capitalization of $160.66 million, a P/E ratio of -7.09 and a beta of 1.48.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARAY shares. Roth Capital reaffirmed a “buy” rating on shares of Accuray in a research note on Tuesday, February 13th. Roth Mkm began coverage on shares of Accuray in a report on Tuesday, February 13th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, TheStreet lowered Accuray from a “c-” rating to a “d+” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.25.

Accuray Company Profile

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.