Northland Capmk Weighs in on Abacus Life Q3 Earnings

Abacus Life, Inc. (NASDAQ:ABL - Free Report) - Equities research analysts at Northland Capmk issued their Q3 2024 earnings estimates for shares of Abacus Life in a report issued on Thursday, October 24th. Northland Capmk analyst M. Grondahl expects that the company will post earnings per share of $0.14 for the quarter. Northland Capmk currently has a "Strong-Buy" rating on the stock. The consensus estimate for Abacus Life's current full-year earnings is $0.57 per share. Northland Capmk also issued estimates for Abacus Life's Q4 2024 earnings at $0.14 EPS, FY2024 earnings at $0.57 EPS, Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.19 EPS, Q4 2025 earnings at $0.22 EPS and FY2025 earnings at $0.74 EPS.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.05. Abacus Life had a negative net margin of 6.19% and a positive return on equity of 7.02%. The firm had revenue of $29.08 million during the quarter, compared to analysts' expectations of $28.57 million. During the same quarter last year, the company earned $0.13 earnings per share.

Several other equities research analysts also recently commented on the stock. Northland Securities initiated coverage on shares of Abacus Life in a research note on Thursday. They issued an "outperform" rating and a $13.50 target price on the stock. B. Riley restated a "buy" rating and issued a $16.00 price target (up from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. TD Cowen initiated coverage on shares of Abacus Life in a report on Wednesday, August 7th. They set a "buy" rating and a $14.00 price objective for the company. Finally, B. Riley Financial reiterated a "buy" rating and issued a $16.00 target price on shares of Abacus Life in a research note on Friday, August 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $14.30.

Abacus Life Price Performance

ABL stock traded down $0.03 during trading on Monday, hitting $9.00. The company had a trading volume of 25,157 shares, compared to its average volume of 64,828. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $9.91 and a two-hundred day moving average price of $10.26. Abacus Life has a fifty-two week low of $5.75 and a fifty-two week high of $13.25. The company has a market cap of $575.33 million, a P/E ratio of 450.00 and a beta of 0.12.

Institutional Trading of Abacus Life

Several hedge funds have recently modified their holdings of ABL. Allspring Global Investments Holdings LLC bought a new position in Abacus Life in the second quarter valued at about $9,909,000. Principal Financial Group Inc. acquired a new position in Abacus Life during the 2nd quarter valued at about $8,105,000. Point72 Asset Management L.P. bought a new position in shares of Abacus Life in the 2nd quarter valued at about $5,190,000. Mendon Capital Advisors Corp acquired a new stake in shares of Abacus Life during the 2nd quarter worth approximately $4,974,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Abacus Life during the second quarter worth approximately $4,342,000.

About Abacus Life

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.