Varex Imaging (NASDAQ:VREX) announced its earnings results on Tuesday. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01), Bloomberg Earnings reports. The firm had revenue of $185.70 million for the quarter, compared to analyst estimates of $176.73 million. Varex Imaging had a net margin of 3.56% and a return on equity of 11.96%. Varex Imaging’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. Varex Imaging updated its FY 2019 guidance to $1.25-1.55 EPS and its FY19 guidance to $1.25-1.55 EPS.
Varex Imaging stock traded up $2.05 during midday trading on Wednesday, reaching $31.07. The stock had a trading volume of 8,082 shares, compared to its average volume of 267,375. Varex Imaging has a 12 month low of $21.57 and a 12 month high of $39.39. The stock has a market capitalization of $1.07 billion, a P/E ratio of 24.18, a P/E/G ratio of 2.08 and a beta of 1.61. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.47 and a current ratio of 3.01.
A number of analysts have recently commented on VREX shares. Zacks Investment Research upgraded Varex Imaging from a “sell” rating to a “hold” rating in a research report on Saturday, December 8th. Sidoti initiated coverage on Varex Imaging in a report on Wednesday, January 16th. They set a “buy” rating and a $35.00 price objective for the company. Jefferies Financial Group restated a “buy” rating on shares of Varex Imaging in a research note on Thursday, November 15th. TheStreet cut shares of Varex Imaging from a “c-” rating to a “d+” rating in a report on Friday, October 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Varex Imaging from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.25.
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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