Abacus Life (NASDAQ:ABL) Announces Earnings Results, Beats Expectations By $0.05 EPS

Abacus Life (NASDAQ:ABL) issued its quarterly earnings data on Monday. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05, Yahoo Finance reports. The business had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.57 million. Abacus Life had a net margin of 0.11% and a return on equity of 4.96%. During the same period last year, the company posted $0.13 EPS.

Abacus Life Stock Up 5.5 %

Abacus Life stock traded up $0.57 during mid-day trading on Tuesday, hitting $10.93. The company had a trading volume of 19,525 shares, compared to its average volume of 53,787. The stock has a market cap of $698.70 million, a price-to-earnings ratio of 546.50 and a beta of 0.12. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 1.03. Abacus Life has a 1 year low of $5.75 and a 1 year high of $13.25. The business has a fifty day moving average of $9.54 and a 200 day moving average of $11.06.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ABL shares. TD Cowen began coverage on Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 target price on the stock. B. Riley Financial decreased their price objective on Abacus Life from $16.00 to $15.00 and set a “buy” rating for the company in a report on Monday, June 24th. B. Riley reiterated a “buy” rating and set a $15.00 target price (down from $16.00) on shares of Abacus Life in a report on Monday, June 24th. Finally, Piper Sandler began coverage on shares of Abacus Life in a report on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 price target for the company. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Abacus Life presently has an average rating of “Buy” and an average target price of $14.00.

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.