FY2024 EPS Estimates for Accuray Incorporated (NASDAQ:ARAY) Lowered by Analyst

Accuray Incorporated (NASDAQ:ARAY - Free Report) - Investment analysts at Roth Capital cut their FY2024 earnings per share estimates for Accuray in a research note issued on Thursday, May 2nd. Roth Capital analyst J. Wittes now expects that the medical equipment provider will earn ($0.16) per share for the year, down from their prior estimate of ($0.09). Roth Capital has a "Buy" rating on the stock. The consensus estimate for Accuray's current full-year earnings is ($0.16) per share. Roth Capital also issued estimates for Accuray's FY2025 earnings at ($0.01) EPS.

Accuray (NASDAQ:ARAY - Get Free Report) last released its earnings results on Wednesday, May 1st. The medical equipment provider reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.05). Accuray had a negative return on equity of 42.34% and a negative net margin of 4.99%. The company had revenue of $101.13 million during the quarter, compared to analysts' expectations of $114.60 million. During the same period in the prior year, the company posted $0.01 earnings per share.

Other equities research analysts have also recently issued reports about the company. Roth Mkm began coverage on Accuray in a research note on Tuesday, February 13th. They issued a "buy" rating and a $9.00 target price on the stock. TheStreet cut Accuray from a "c-" rating to a "d+" rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $8.25.

Accuray Stock Up 10.5 %

Shares of NASDAQ ARAY traded up $0.17 during trading on Monday, reaching $1.79. The company had a trading volume of 1,415,280 shares, compared to its average volume of 529,289. Accuray has a 12-month low of $1.51 and a 12-month high of $4.30. The stock has a market cap of $177.51 million, a PE ratio of -8.14 and a beta of 1.48. The business's 50-day moving average is $2.41 and its 200 day moving average is $2.61. The company has a quick ratio of 0.84, a current ratio of 1.58 and a debt-to-equity ratio of 3.53.

Institutional Investors Weigh In On Accuray

Several institutional investors have recently modified their holdings of ARAY. Dynamic Technology Lab Private Ltd purchased a new position in Accuray in the fourth quarter worth about $29,000. Tower Research Capital LLC TRC boosted its position in Accuray by 165.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,096 shares of the medical equipment provider's stock worth $34,000 after purchasing an additional 7,531 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in Accuray in the third quarter worth about $35,000. Victory Capital Management Inc. purchased a new position in Accuray in the fourth quarter worth about $35,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Accuray in the third quarter worth about $42,000. 64.08% of the stock is owned by hedge funds and other institutional investors.

About Accuray

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.