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

Accuray (NASDAQ:ARAY) announced its earnings results on Wednesday. The medical equipment provider reported ($0.06) earnings per share (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 analyst estimates of $114.60 million. Accuray had a negative return on equity of 42.34% and a negative net margin of 4.99%. During the same quarter last year, the business earned $0.01 EPS. Accuray updated its FY 2024 guidance to EPS.

Accuray Stock Performance

Shares of Accuray stock opened at $1.62 on Friday. The company has a debt-to-equity ratio of 3.53, a current ratio of 1.58 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $2.41 and a 200 day simple moving average of $2.61. Accuray has a fifty-two week low of $1.51 and a fifty-two week high of $4.30. The firm has a market cap of $160.66 million, a P/E ratio of -7.36 and a beta of 1.48.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ARAY shares. Roth Capital reaffirmed a “buy” rating on shares of Accuray in a report on Tuesday, February 13th. TheStreet cut Accuray from a “c-” rating to a “d+” rating in a report on Wednesday, February 14th. Finally, Roth Mkm initiated coverage on Accuray in a research note on Tuesday, February 13th. They issued a “buy” rating and a $9.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.