Northland Capmk Forecasts Higher Earnings for Abacus Life

Abacus Life, Inc. (NASDAQ:ABL - Free Report) - Equities researchers at Northland Capmk boosted their FY2024 earnings estimates for Abacus Life in a research report issued to clients and investors on Friday, November 8th. Northland Capmk analyst M. Grondahl now forecasts that the company will post earnings of $0.64 per share for the year, up from their previous estimate of $0.57. Northland Capmk has a "Strong-Buy" rating on the stock. The consensus estimate for Abacus Life's current full-year earnings is $0.60 per share. Northland Capmk also issued estimates for Abacus Life's Q4 2024 earnings at $0.15 EPS, Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.21 EPS, Q4 2025 earnings at $0.24 EPS and FY2025 earnings at $0.78 EPS.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler reiterated an "overweight" rating and set a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a research note on Friday. Northland Securities began coverage on Abacus Life in a research report on Thursday, October 24th. They set an "outperform" rating and a $13.50 price objective for the company. TD Cowen assumed coverage on Abacus Life in a research report on Wednesday, August 7th. They issued a "buy" rating and a $14.00 target price for the company. B. Riley reaffirmed a "buy" rating and set a $16.00 target price (up previously from $15.00) on shares of Abacus Life in a research note on Thursday, August 29th. Finally, B. Riley Financial reissued a "buy" rating and issued a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $14.50.

Abacus Life Trading Down 5.1 %

NASDAQ:ABL traded down $0.46 during mid-day trading on Monday, hitting $8.56. The company had a trading volume of 27,223 shares, compared to its average volume of 63,574. 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 business's fifty day moving average is $9.62 and its two-hundred day moving average is $10.06. Abacus Life has a fifty-two week low of $5.75 and a fifty-two week high of $13.25.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. Abacus Life had a positive return on equity of 13.90% and a negative net margin of 11.65%. The company had revenue of $29.08 million for the quarter, compared to analysts' expectations of $28.57 million. During the same quarter in the prior year, the business earned $0.13 earnings per share.

Institutional Trading of Abacus Life

Institutional investors and hedge funds have recently modified their holdings of the stock. Richard W. Paul & Associates LLC raised its stake in Abacus Life by 4.8% in the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company's stock worth $263,000 after buying an additional 1,401 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Abacus Life in the second quarter worth $9,909,000. Principal Financial Group Inc. purchased a new position in Abacus Life in the second quarter worth $8,105,000. Stieven Capital Advisors L.P. purchased a new position in Abacus Life in the second quarter worth $2,811,000. Finally, Levin Capital Strategies L.P. purchased a new position in Abacus Life in the second quarter worth $130,000.

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.