Analysts Expect Varex Imaging Corp (NASDAQ:VREX) Will Announce Earnings of -$0.07 Per Share

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Equities research analysts forecast that Varex Imaging Corp (NASDAQ:VREX) will report earnings of ($0.07) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Varex Imaging’s earnings. The lowest EPS estimate is ($0.10) and the highest is ($0.04). Varex Imaging reported earnings of $0.46 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 115.2%. The company is expected to report its next quarterly earnings report on Tuesday, November 10th.

On average, analysts expect that Varex Imaging will report full-year earnings of $0.05 per share for the current year, with EPS estimates ranging from $0.02 to $0.07. For the next year, analysts expect that the business will post earnings of $0.51 per share. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Varex Imaging.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.19). The company had revenue of $171.20 million during the quarter, compared to analyst estimates of $172.52 million. Varex Imaging had a negative net margin of 2.89% and a positive return on equity of 4.93%.

A number of equities analysts have commented on VREX shares. Oppenheimer lowered Varex Imaging from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 13th. ValuEngine raised Varex Imaging from a “hold” rating to a “buy” rating in a research note on Tuesday, September 1st. TheStreet downgraded Varex Imaging from a “c-” rating to a “d” rating in a research report on Wednesday, August 12th. BidaskClub upgraded Varex Imaging from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Finally, Zacks Investment Research downgraded Varex Imaging from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $30.60.

In related news, CAO Kevin Bruce Yankton sold 1,629 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $16.34, for a total value of $26,617.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in VREX. Fifth Third Bancorp boosted its position in shares of Varex Imaging by 28.7% during the second quarter. Fifth Third Bancorp now owns 3,856 shares of the company’s stock worth $58,000 after buying an additional 859 shares during the period. Equitec Specialists LLC purchased a new position in shares of Varex Imaging in the second quarter worth about $65,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Varex Imaging by 30.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,172 shares of the company’s stock worth $72,000 after buying an additional 742 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Varex Imaging in the first quarter worth about $78,000. Finally, Bank of Montreal Can lifted its stake in shares of Varex Imaging by 302.1% in the second quarter. Bank of Montreal Can now owns 6,780 shares of the company’s stock worth $98,000 after buying an additional 5,094 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.

Varex Imaging stock traded up $0.65 on Wednesday, reaching $12.06. The company’s stock had a trading volume of 389,805 shares, compared to its average volume of 459,451. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.12 and a current ratio of 2.60. The company has a market cap of $471.55 million, a price-to-earnings ratio of -21.16, a PEG ratio of 47.56 and a beta of 0.98. The business’s fifty day moving average price is $13.10 and its 200 day moving average price is $17.93. Varex Imaging has a twelve month low of $10.36 and a twelve month high of $33.00.

About Varex Imaging

Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.

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Earnings History and Estimates for Varex Imaging (NASDAQ:VREX)

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