Abacus Life (NASDAQ:ABL) Posts Earnings Results, Beats Expectations By $0.03 EPS

Abacus Life (NASDAQ:ABL) announced its quarterly earnings results on Thursday. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03, Zacks reports. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The business had revenue of $33.21 million during the quarter, compared to analysts’ expectations of $28.76 million.

Abacus Life Trading Down 0.8 %

NASDAQ ABL opened at $7.15 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life has a 12 month low of $6.75 and a 12 month high of $12.50. The company has a market capitalization of $691.01 million, a PE ratio of -39.72 and a beta of 0.14. The stock has a 50-day simple moving average of $7.61 and a 200 day simple moving average of $8.31.

Analyst Ratings Changes

Separately, B. Riley dropped their price target on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $14.30.

Abacus Life Company Profile

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.