Factors Likely to Have Influenced Earnings Results Accuray (NASDAQ:ARAY)

Earnings results for Accuray (NASDAQ:ARAY)

Accuray Incorporated is expected* to report earnings on 04/27/2021 after market close. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.01. The reported EPS for the same quarter last year was $0.03.

Accuray last released its earnings results on January 26th, 2021. The medical equipment provider reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $97.46 million for the quarter, compared to analyst estimates of $92.85 million. Accuray has generated ($0.08) earnings per share over the last year and currently has a price-to-earnings ratio of 39.4. Accuray has confirmed that its next quarterly earnings report will be published on Tuesday, April 27th, 2021.

Analyst Opinion on Accuray (NASDAQ:ARAY)

4 Wall Street analysts have issued ratings and price targets for Accuray in the last 12 months. Their average twelve-month price target is $8.00, predicting that the stock has a possible upside of 45.19%. The high price target for ARAY is $10.00 and the low price target for ARAY is $6.00. There are currently 1 hold rating and 3 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Accuray has received a consensus rating of Buy. The company’s average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $8.00, Accuray has a forecasted upside of 45.2% from its current price of $5.51. Accuray has received no research coverage in the past 90 days.

Dividend Strength: Accuray (NASDAQ:ARAY)

Accuray does not currently pay a dividend. Accuray does not have a long track record of dividend growth.

Insiders buying/selling: Accuray (NASDAQ:ARAY)

In the past three months, Accuray insiders have bought more of their company’s stock than they have sold. Specifically, they have bought $100,400.00 in company stock and sold $0.00 in company stock. Only 4.00% of the stock of Accuray is held by insiders. 69.80% of the stock of Accuray is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Accuray (NASDAQ:ARAY

Earnings for Accuray are expected to grow by 350.00% in the coming year, from $0.02 to $0.09 per share. The P/E ratio of Accuray is 39.36, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 24.19. The P/E ratio of Accuray is 39.36, which means that it is trading at a less expensive P/E ratio than the Medical sector average P/E ratio of about 45.70. Accuray has a P/B Ratio of 7.87. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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