Somewhat Favorable News Coverage Somewhat Unlikely to Affect ABAXIS (ABAX) Share Price
Headlines about ABAXIS (NASDAQ:ABAX) have been trending somewhat positive this week, according to Accern Sentiment. The research group identifies positive and negative press coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. ABAXIS earned a news impact score of 0.16 on Accern’s scale. Accern also gave headlines about the medical research company an impact score of 46.6043927776949 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the headlines that may have effected Accern’s rankings:
- Global Veterinary Hematology Analyzers Market Is Projected to Reach a Valuation of US$1,178.9 Mn by 2024 (sbwire.com)
- Middle East and Africa Veterinary Diagnostics Industry Size to touch $358.9 Mn by 2020 | Market Data Forecast (medgadget.com)
- ETFs with exposure to ABAXIS, Inc. : October 10, 2017 (finance.yahoo.com)
- Latin America Veterinary Diagnostics Industry Size to touch $584.44 Mn by 2020 (reports.pr-inside.com)
- $61.49 Million in Sales Expected for ABAXIS, Inc. (ABAX) This Quarter (americanbankingnews.com)
Shares of ABAXIS (ABAX) traded up 0.37% on Wednesday, reaching $45.96. The company’s stock had a trading volume of 61,331 shares. The company has a 50 day moving average price of $45.38 and a 200 day moving average price of $48.24. The company has a market cap of $1.04 billion, a P/E ratio of 32.46 and a beta of 0.82. ABAXIS has a 52-week low of $43.66 and a 52-week high of $55.95.
ABAXIS (NASDAQ:ABAX) last released its earnings results on Thursday, July 27th. The medical research company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.05). The firm had revenue of $58.26 million for the quarter, compared to the consensus estimate of $60.37 million. ABAXIS had a return on equity of 10.85% and a net margin of 14.12%. ABAXIS’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.30 EPS. On average, analysts anticipate that ABAXIS will post $1.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, August 30th. ABAXIS’s payout ratio is 39.72%.
A number of research analysts have commented on ABAX shares. Stifel Nicolaus restated a “hold” rating and issued a $48.00 target price on shares of ABAXIS in a research note on Friday, July 14th. Bank of America Corporation restated an “underperform” rating and issued a $42.00 target price on shares of ABAXIS in a research note on Wednesday, August 23rd. BidaskClub downgraded ABAXIS from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research downgraded ABAXIS from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $48.63.
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ABAXIS Company Profile
Abaxis, Inc is a developer, manufacturer and marketer of portable blood analysis systems that are used in medical specialties in human or veterinary patient care to provide clinicians with blood constituent measurements. The Company markets and sells its products around the world through independent distributors and direct sales force.
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