Analysts Anticipate Accuray Incorporated (NASDAQ:ARAY) to Post -$0.01 EPS

Analysts forecast that Accuray Incorporated (NASDAQ:ARAY) will report ($0.01) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Accuray’s earnings. Accuray also posted earnings per share of ($0.01) in the same quarter last year. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, August 11th.

According to Zacks, analysts expect that Accuray will report full-year earnings of $0.03 per share for the current year, with EPS estimates ranging from $0.01 to $0.04. For the next fiscal year, analysts anticipate that the business will report earnings of $0.08 per share, with EPS estimates ranging from $0.02 to $0.11. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Accuray.

Separately, Zacks Investment Research downgraded Accuray from a “hold” rating to a “sell” rating and set a $5.00 price target for the company. in a research note on Thursday, April 29th.

A number of hedge funds have recently bought and sold shares of ARAY. First Trust Advisors LP bought a new position in Accuray in the first quarter valued at approximately $298,000. ProShare Advisors LLC grew its stake in Accuray by 80.8% in the fourth quarter. ProShare Advisors LLC now owns 19,835 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 8,864 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Accuray by 38.1% in the fourth quarter. Bank of New York Mellon Corp now owns 727,997 shares of the medical equipment provider’s stock valued at $3,035,000 after purchasing an additional 201,027 shares in the last quarter. Wells Fargo & Company MN grew its stake in Accuray by 38.6% in the fourth quarter. Wells Fargo & Company MN now owns 303,343 shares of the medical equipment provider’s stock valued at $1,264,000 after purchasing an additional 84,467 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Accuray by 7.1% during the 4th quarter. Rhumbline Advisers now owns 111,063 shares of the medical equipment provider’s stock worth $463,000 after acquiring an additional 7,370 shares during the period. Hedge funds and other institutional investors own 73.84% of the company’s stock.

ARAY stock traded down $0.04 during mid-day trading on Friday, reaching $4.14. The company had a trading volume of 400 shares, compared to its average volume of 477,960. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.86 and a quick ratio of 1.15. The stock’s 50 day moving average is $4.40. The company has a market capitalization of $386.10 million, a P/E ratio of 103.53 and a beta of 1.87. Accuray has a 52 week low of $2.17 and a 52 week high of $6.01.

About Accuray

Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body in the Americas, Europe, the Middle East, India, Japan, Africa, and rest of the Asia Pacific region. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.

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