Elekta (OTCMKTS:EKTAY) Raised to Hold at Zacks Research

Key Points

• Elekta has been upgraded from a "strong sell" rating to a "hold" rating by Zacks Research, amidst a consensus rating of "Reduce" from other analysts.
• The company's stock opened at $5.25 and has a market capitalization of $1.93 billion, with a P/E ratio of 87.43.
• Elekta reported earnings of $0.03 per share for the last quarter, with revenue of $379.64 million and is expected to post $0.36 EPS for the current fiscal year.

Zacks Research upgraded shares of Elekta (OTCMKTS:EKTAY - Free Report) from a strong sell rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Several other research analysts have also commented on EKTAY. Danske lowered Elekta to a "hold" rating in a research report on Tuesday, June 3rd. UBS Group began coverage on Elekta in a research report on Wednesday, September 3rd. They issued a "sell" rating on the stock. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce".

Elekta Trading Down 1.8%

Shares of EKTAY stock traded down $0.10 during mid-day trading on Tuesday, hitting $5.26. 2,758 shares of the company's stock were exchanged, compared to its average volume of 4,227. Elekta has a fifty-two week low of $4.36 and a fifty-two week high of $7.13. The stock has a 50-day simple moving average of $4.98 and a two-hundred day simple moving average of $5.09. The company has a quick ratio of 0.82, a current ratio of 1.05 and a debt-to-equity ratio of 0.63. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 87.60 and a beta of 1.10.

Elekta (OTCMKTS:EKTAY - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported $0.03 earnings per share for the quarter. Elekta had a return on equity of 11.49% and a net margin of 1.40%.The firm had revenue of $379.64 million for the quarter. Equities analysts expect that Elekta will post 0.36 EPS for the current fiscal year.

Elekta Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 9th will be issued a $0.0744 dividend. This represents a yield of 289.0%. The ex-dividend date of this dividend is Monday, September 8th. Elekta's payout ratio is currently 216.67%.

About Elekta

Elekta AB (publ), a medical technology company, provides clinical solutions for treating cancer and brain disorders worldwide. The company offers Versa HD, a brain metastases solution; Elekta Unity for real-time MR visualization; Elekta Harmony, a linear accelerator; Elekta Infinity for treating a range of patients with simple-to-complex radiotherapy needs; Elekta Synergy, a digital accelerator for image guided radiation therapy; treatment and workflow management solutions; radiation and medical oncology; and other patient services.