Wall Street analysts forecast that ABAXIS, Inc. (NASDAQ:ABAX) will post earnings per share (EPS) of $0.29 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for ABAXIS’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.27. ABAXIS posted earnings of $0.34 per share during the same quarter last year, which would indicate a negative year over year growth rate of 14.7%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that ABAXIS will report full-year earnings of $1.14 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.19. For the next year, analysts expect that the business will post earnings of $1.30 per share, with EPS estimates ranging from $1.23 to $1.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover ABAXIS.
ABAXIS (NASDAQ:ABAX) last issued its quarterly earnings data on Thursday, July 27th. The medical research company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.05). ABAXIS had a net margin of 14.12% and a return on equity of 10.85%. The firm had revenue of $58.26 million during the quarter, compared to analyst estimates of $60.37 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year.
Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus reissued a “hold” rating and set a $48.00 price objective on shares of ABAXIS in a research report on Friday, July 14th. Zacks Investment Research raised shares of ABAXIS from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Bank of America Corporation reissued an “underperform” rating and set a $42.00 price objective on shares of ABAXIS in a research report on Wednesday, August 23rd. BidaskClub downgraded shares of ABAXIS from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, Aegis assumed coverage on shares of ABAXIS in a research report on Friday, June 9th. They set a “hold” rating and a $56.50 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $48.63.
Shares of ABAXIS (NASDAQ:ABAX) traded down 0.18% during midday trading on Friday, hitting $44.25. The stock had a trading volume of 254,721 shares. The stock has a market cap of $1.00 billion, a P/E ratio of 31.25 and a beta of 0.81. ABAXIS has a 12-month low of $43.72 and a 12-month high of $55.95. The stock has a 50-day moving average price of $46.13 and a 200-day moving average price of $48.73.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Wednesday, August 30th. ABAXIS’s dividend payout ratio is 39.72%.
Several hedge funds have recently modified their holdings of ABAX. BlackRock Inc. increased its position in shares of ABAXIS by 132,779.9% during the first quarter. BlackRock Inc. now owns 2,689,490 shares of the medical research company’s stock worth $130,442,000 after acquiring an additional 2,687,466 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in ABAXIS by 5.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,132,117 shares of the medical research company’s stock valued at $166,065,000 after purchasing an additional 171,541 shares in the last quarter. Copeland Capital Management LLC grew its position in ABAXIS by 20.6% in the second quarter. Copeland Capital Management LLC now owns 327,380 shares of the medical research company’s stock valued at $17,358,000 after purchasing an additional 55,929 shares in the last quarter. State Street Corp grew its position in ABAXIS by 8.9% in the first quarter. State Street Corp now owns 563,999 shares of the medical research company’s stock valued at $27,351,000 after purchasing an additional 46,118 shares in the last quarter. Finally, Eaton Vance Management bought a new position in ABAXIS in the second quarter valued at $2,257,000. 97.27% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ABAXIS Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABAXIS Inc. and related companies with MarketBeat.com's FREE daily email newsletter.