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

Accuray (NASDAQ:ARAY) released its earnings results on Wednesday. The medical equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05), Yahoo Finance reports. The firm had revenue of $101.13 million for the quarter, compared to the consensus estimate of $114.60 million. Accuray had a negative return on equity of 28.11% and a negative net margin of 3.25%. During the same quarter in the previous year, the business posted $0.01 EPS. Accuray updated its FY 2024 guidance to EPS.

Accuray Price Performance

Shares of ARAY stock traded down $0.63 on Thursday, reaching $1.54. The company’s stock 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 current ratio of 1.58, a quick ratio of 0.84 and a debt-to-equity ratio of 3.53. The stock’s fifty day simple moving average is $2.45 and its 200-day simple moving average is $2.63. The company has a market capitalization of $152.72 million, a price-to-earnings ratio of -10.40 and a beta of 1.48.

Analysts Set New Price Targets

ARAY has been the subject of a number of recent analyst reports. TheStreet lowered Accuray from a “c-” rating to a “d+” rating in a research note on Wednesday, February 14th. Roth Capital reiterated a “buy” rating on shares of Accuray in a report on Tuesday, February 13th. Finally, Roth Mkm assumed coverage on shares of Accuray in a report on Tuesday, February 13th. They set a “buy” rating and a $9.00 price objective for the company. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.