Lumexa Imaging (NASDAQ:LMRI) Shares Gap Up on Better-Than-Expected Earnings

Key Points

• Lumexa Imaging shares jumped after earnings: The stock opened at $15.25 versus a prior close of $13.92, and was last trading at $15.97.
• The company reported quarterly EPS of $0.26, above the cited consensus estimate of $0.07, on revenue of $271.97 million. Other summaries in the article give conflicting EPS comparisons, so the reported earnings figures are not consistent throughout.
• Analysts have an overall Buy rating and an average price target of $16.40; recent operating trends cited include 5% revenue growth and higher gross profit and operating cash flow.

Shares of Lumexa Imaging Holdings, Inc. (NASDAQ:LMRI - Get Free Report) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $13.92, but opened at $15.25. Lumexa Imaging shares last traded at $15.9720, with a volume of 92,913 shares changing hands.

The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.19. The firm had revenue of $271.97 million for the quarter.

Top Lumexa Imaging Stories

These are some of the LMRI stories that stood out recently:

• Positive Sentiment: Revenue increased 5% year over year to about $272 million, gross profit rose 16.9%, and operating cash flow climbed to $34.8 million from a year earlier. These trends point to improved revenue and cash generation. Q3 financial details
• Neutral Sentiment: LMRI also provided guidance, but the supplied reports do not specify its details, limiting assessment of the outlook. Guidance report
• Negative Sentiment: Results were not uniformly strong: one financial summary lists diluted EPS of $0.07 against a $0.19 estimate, revenue slightly below its $275.3 million estimate, and operating profit down 7.3% year over year. The differing EPS figures across reports make the earnings comparison less clear. Financial summary

Wall Street Analyst Weigh In

Several brokerages recently commented on LMRI. Weiss Ratings reissued a "sell (d)" rating on shares of Lumexa Imaging in a report on Tuesday, September 22nd. Truist Financial began coverage on Lumexa Imaging in a research note on Monday, October 5th. They set a "buy" rating and a $18.00 price target for the company. UBS Group reiterated a "strong-buy" rating on shares of Lumexa Imaging in a research report on Monday, September 28th. Barclays boosted their price objective on Lumexa Imaging from $9.00 to $13.00 and gave the stock an "overweight" rating in a research note on Friday, August 28th. Finally, Raymond James Financial set a $17.00 price objective on Lumexa Imaging in a report on Monday, September 28th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $16.40.

Institutional Trading of Lumexa Imaging

Several institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new position in Lumexa Imaging in the 1st quarter worth about $38,000. State of Alaska Department of Revenue bought a new stake in shares of Lumexa Imaging in the 3rd quarter valued at approximately $46,000. PNC Financial Services Group Inc. bought a new stake in shares of Lumexa Imaging in the 1st quarter valued at approximately $63,000. State of Wyoming acquired a new position in Lumexa Imaging in the first quarter worth approximately $91,000. Finally, AXQ Capital LP acquired a new position in Lumexa Imaging in the second quarter worth approximately $128,000.

Lumexa Imaging Stock Performance

The stock has a market cap of $1.53 billion and a P/E ratio of -32.41. The firm's 50-day moving average is $11.24 and its two-hundred day moving average is $11.07. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 1.40.

Lumexa Imaging Company Profile

Lumexa Imaging operates outpatient diagnostic imaging centers that provide radiology services to patients, referring physicians and healthcare providers. Its services include imaging used to help diagnose and monitor a range of medical conditions. The company offers diagnostic procedures such as MRI, CT, PET/CT, mammography, ultrasound and X-ray through its imaging centers and affiliated radiology practices. Lumexa serves communities across the United States, providing an outpatient option for medical imaging outside of a hospital setting.

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