Varex Imaging (NASDAQ:VREX) Updates Q3 Earnings Guidance

Varex Imaging (NASDAQ:VREX - Get Free Report) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.05 to $0.25 for the period, compared to the consensus EPS estimate of $0.30. The company issued revenue guidance of $200 million to $220 million, compared to the consensus revenue estimate of $224.50 million.

Wall Street Analysts Forecast Growth

Separately, TheStreet cut Varex Imaging from a b- rating to a c rating in a research note on Tuesday, February 6th.

Varex Imaging Stock Performance

Shares of VREX traded down $0.15 during mid-day trading on Thursday, reaching $16.43. The company's stock had a trading volume of 526,654 shares, compared to its average volume of 319,548. Varex Imaging has a 1-year low of $16.00 and a 1-year high of $23.90. The stock has a market cap of $667.06 million, a P/E ratio of 17.11, a PEG ratio of 2.34 and a beta of 0.72. The business has a 50-day simple moving average of $17.35 and a two-hundred day simple moving average of $18.51. The company has a current ratio of 4.30, a quick ratio of 2.37 and a debt-to-equity ratio of 0.76.

Varex Imaging (NASDAQ:VREX - Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.05). Varex Imaging had a return on equity of 9.21% and a net margin of 5.08%. The firm had revenue of $190.00 million for the quarter, compared to the consensus estimate of $187.97 million. During the same quarter last year, the business posted $0.08 EPS. Varex Imaging's revenue for the quarter was down 7.6% on a year-over-year basis. As a group, equities research analysts anticipate that Varex Imaging will post 0.99 earnings per share for the current fiscal year.

About Varex Imaging

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.