Accuray (NASDAQ:ARAY) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Accuray (NASDAQ:ARAY - Get Free Report) posted its quarterly earnings results on Wednesday. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.05), Yahoo Finance reports. Accuray had a negative return on equity of 28.11% and a negative net margin of 3.25%. The business had revenue of $101.13 million for the quarter, compared to analysts' expectations of $114.60 million. During the same period in the prior year, the business posted $0.01 earnings per share. Accuray updated its FY 2024 guidance to EPS.

Accuray Price Performance

Accuray stock traded down $0.63 during trading on Thursday, reaching $1.54. The company had a trading volume of 5,292,999 shares, compared to its average volume of 506,936. Accuray has a 1-year low of $1.51 and a 1-year high of $4.30. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.84 and a current ratio of 1.58. The firm's 50-day simple moving average is $2.45 and its 200 day simple moving average is $2.63. The firm has a market capitalization of $152.72 million, a PE ratio of -10.40 and a beta of 1.48.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. TheStreet lowered shares of Accuray from a "c-" rating to a "d+" rating in a research report on Wednesday, February 14th. Roth Mkm began coverage on shares of Accuray in a report on Tuesday, February 13th. They set a "buy" rating and a $9.00 target price for the company. Finally, Roth Capital reaffirmed a "buy" rating on shares of Accuray in a report on Tuesday, February 13th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $8.25.

Accuray Company Profile

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.