Varex Imaging (NASDAQ:VREX) Updates Q3 2024 Earnings Guidance

Varex Imaging (NASDAQ:VREX) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.050-0.250 for the period, compared to the consensus earnings per share estimate of 0.330. The company issued revenue guidance of $200.0 million-$220.0 million, compared to the consensus revenue estimate of $224.5 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 Price Performance

Shares of VREX traded up $0.04 during trading hours on Monday, reaching $15.63. The stock had a trading volume of 588,224 shares, compared to its average volume of 330,828. Varex Imaging has a 12 month low of $14.56 and a 12 month high of $23.90. The stock has a market capitalization of $639.27 million, a PE ratio of 17.52, a PEG ratio of 2.25 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.37 and a current ratio of 4.23. The company’s 50-day moving average is $17.32 and its two-hundred day moving average is $18.50.

Varex Imaging (NASDAQ:VREX) last announced its earnings results on Thursday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). The company had revenue of $206.20 million for the quarter, compared to the consensus estimate of $205.15 million. Varex Imaging had a return on equity of 8.26% and a net margin of 4.90%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 earnings per share. Research analysts expect that Varex Imaging will post 0.99 EPS for the current year.

Varex Imaging Company Profile

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.