Abacus Life (NASDAQ:ABL) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Abacus Life (NASDAQ:ABL) issued its quarterly earnings results on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03, Zacks reports. The firm had revenue of $33.21 million during the quarter, compared to analyst estimates of $28.76 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%.

Abacus Life Trading Down 0.8 %

ABL opened at $7.15 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $7.61 and its two-hundred day moving average is $8.31. The company has a market capitalization of $691.01 million, a P/E ratio of -39.72 and a beta of 0.14. Abacus Life has a 52 week low of $6.75 and a 52 week high of $12.50.

Analysts Set New Price Targets

Separately, B. Riley decreased their target price on Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Abacus Life presently has an average rating of “Buy” and a consensus price target of $14.30.

Abacus Life Company Profile

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.