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

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

Accuray Stock Down 28.1 %

Shares of NASDAQ ARAY traded down $0.61 during midday trading on Thursday, reaching $1.56. The company’s stock had a trading volume of 3,444,199 shares, compared to its average volume of 484,732. The company has a current ratio of 1.58, a quick ratio of 0.84 and a debt-to-equity ratio of 3.53. Accuray has a fifty-two week low of $1.51 and a fifty-two week high of $4.30. The stock has a market capitalization of $154.71 million, a price-to-earnings ratio of -11.13 and a beta of 1.48. The stock has a 50 day simple moving average of $2.45 and a 200-day simple moving average of $2.63.

Analyst Ratings Changes

Several brokerages have commented on ARAY. TheStreet downgraded shares of Accuray from a “c-” rating to a “d+” rating in a report on Wednesday, February 14th. Roth Capital restated a “buy” rating on shares of Accuray in a report on Tuesday, February 13th. Finally, 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 on the stock. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Accuray has a consensus rating of “Moderate Buy” and an average target price of $8.25.

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.