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

Abacus Life (NASDAQ:ABL) released 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. Abacus Life had a net margin of 0.11% and a return on equity of 4.96%. The firm had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.57 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share.

Abacus Life Trading Up 0.8 %

Shares of NASDAQ ABL traded up $0.09 during midday trading on Wednesday, reaching $10.75. 16,332 shares of the stock were exchanged, compared to its average volume of 54,504. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $687.19 million, a P/E ratio of 509.50 and a beta of 0.12. The stock has a 50 day moving average price of $9.52 and a 200-day moving average price of $11.05. Abacus Life has a 52-week low of $5.75 and a 52-week high of $13.25.

Wall Street Analyst Weigh In

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