Accuray (NASDAQ:ARAY) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Accuray (NASDAQ:ARAY) released its quarterly 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 analysts’ expectations 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 last year, the firm earned $0.01 earnings per share. Accuray updated its FY 2024 guidance to EPS.

Accuray Price Performance

ARAY stock traded down $0.63 during mid-day trading on Thursday, hitting $1.54. 5,292,999 shares of the stock were exchanged, compared to its average volume of 506,936. The business has a fifty day moving average price of $2.45 and a 200 day moving average price of $2.63. Accuray has a 12 month low of $1.51 and a 12 month high of $4.30. 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 stock has a market capitalization of $152.72 million, a price-to-earnings ratio of -10.40 and a beta of 1.48.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARAY. TheStreet cut Accuray from a “c-” rating to a “d+” rating in a research report on Wednesday, February 14th. Roth Capital reissued 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 research report on Tuesday, February 13th. They issued a “buy” rating and a $9.00 price objective on the stock. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.