A2Z Cust2Mate Solutions (NASDAQ:AZ) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• A2Z Cust2Mate Solutions reported quarterly EPS of ($0.16), beating analysts’ estimate of ($0.18) by $0.02. However, the company continued to post weak profitability, including a negative net margin of 415.62%.
• Shares fell 3.4% to $6.47 following the results. Analysts’ consensus rating is “Hold”, with a $15.00 average price target, while ratings range from Buy to Sell.
• The company authorized a $20 million stock buyback, allowing it to repurchase up to 7.2% of outstanding shares; institutional investors currently own 12.64% of the stock.

A2Z Cust2Mate Solutions (NASDAQ:AZ - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02, Zacks reports. A2Z Cust2Mate Solutions had a negative return on equity of 62.55% and a negative net margin of 415.62%.

A2Z Cust2Mate Solutions Trading Down 3.4%

Shares of AZ traded down $0.23 during midday trading on Wednesday, reaching $6.47. The stock had a trading volume of 217,591 shares, compared to its average volume of 407,585. The company has a market capitalization of $288.17 million, a price-to-earnings ratio of -6.34 and a beta of 1.16. A2Z Cust2Mate Solutions has a 12-month low of $4.97 and a 12-month high of $10.14. The company's 50-day moving average is $5.85 and its 200 day moving average is $6.35.

Institutional Trading of A2Z Cust2Mate Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of AZ. Osaic Holdings Inc. purchased a new position in shares of A2Z Cust2Mate Solutions during the second quarter worth approximately $146,000. NewEdge Advisors LLC bought a new position in shares of A2Z Cust2Mate Solutions during the 2nd quarter valued at $148,000. Squarepoint Ops LLC bought a new position in shares of A2Z Cust2Mate Solutions during the 4th quarter valued at $178,000. Kestra Advisory Services LLC purchased a new position in A2Z Cust2Mate Solutions in the 4th quarter worth $206,000. Finally, Geode Capital Management LLC raised its position in A2Z Cust2Mate Solutions by 113.3% in the 2nd quarter. Geode Capital Management LLC now owns 21,354 shares of the company's stock worth $226,000 after purchasing an additional 11,342 shares during the period. Hedge funds and other institutional investors own 12.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AZ shares. Zacks Research cut A2Z Cust2Mate Solutions from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of A2Z Cust2Mate Solutions in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of A2Z Cust2Mate Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, April 18th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, A2Z Cust2Mate Solutions currently has an average rating of "Hold" and a consensus price target of $15.00.

A2Z Cust2Mate Solutions announced that its Board of Directors has initiated a stock buyback program on Monday, July 6th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the company to reacquire up to 7.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

A2Z Cust2Mate Solutions Company Profile

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.

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