Abacus Life (NASDAQ:ABL - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.16 earnings per share (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 company had revenue of $33.21 million for the quarter, compared to the consensus estimate of $28.76 million.
Abacus Life Price Performance
Abacus Life stock traded down $0.13 during mid-day trading on Monday, hitting $7.49. 348,120 shares of the company were exchanged, compared to its average volume of 143,434. The company has a market capitalization of $723.87 million, a PE ratio of -41.61 and a beta of 0.14. The business has a fifty day moving average of $7.62 and a 200 day moving average of $8.26. Abacus Life has a 1-year low of $6.75 and a 1-year high of $12.50. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.
Wall Street Analysts Forecast Growth
Separately, B. Riley dropped their price target on 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $14.30.
Read Our Latest Stock Report on Abacus Life
About Abacus Life
(
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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.
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