FY2024 Earnings Forecast for Accuray Incorporated Issued By Roth Capital (NASDAQ:ARAY)

Accuray Incorporated (NASDAQ:ARAY) – Analysts at Roth Capital lowered their FY2024 earnings estimates for Accuray in a research note issued on Thursday, May 2nd. Roth Capital analyst J. Wittes now forecasts that the medical equipment provider will post earnings of ($0.16) per share for the year, down from their previous forecast of ($0.09). Roth Capital has a “Buy” rating on the stock. The consensus estimate for Accuray’s current full-year earnings is ($0.16) per share. Roth Capital also issued estimates for Accuray’s FY2025 earnings at ($0.01) EPS.

ARAY has been the subject of a number of other research reports. TheStreet downgraded Accuray from a “c-” rating to a “d+” rating in a research report on Wednesday, February 14th. Roth Mkm assumed coverage on shares of Accuray in a research note on Tuesday, February 13th. They set a “buy” rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.25.

Accuray Price Performance

ARAY opened at $1.62 on Monday. 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 has a market capitalization of $160.66 million, a P/E ratio of -7.36 and a beta of 1.48. The stock has a 50-day moving average price of $2.41 and a 200-day moving average price of $2.61. Accuray has a 12-month low of $1.51 and a 12-month high of $4.30.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, May 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The company had revenue of $101.13 million during the quarter, compared to analysts’ expectations 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 firm posted $0.01 earnings per share.

Institutional Investors Weigh In On Accuray

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in Accuray during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC grew its holdings in shares of Accuray by 165.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,096 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 7,531 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Accuray in the fourth quarter worth $35,000. Commonwealth Equity Services LLC purchased a new position in shares of Accuray in the third quarter worth $35,000. Finally, Kestra Advisory Services LLC bought a new stake in Accuray during the 3rd quarter valued at $42,000. Institutional investors own 64.08% of the company’s stock.

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.