Abacus Life (NASDAQ:ABL) Posts Earnings Results, Beats Estimates By $0.03 EPS

Abacus Life (NASDAQ:ABL) issued its quarterly earnings data on Thursday. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03, Zacks reports. The company had revenue of $33.21 million for the quarter, compared to analyst estimates of $28.76 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%.

Abacus Life Stock Performance

NASDAQ ABL opened at $7.15 on Friday. The stock has a market cap of $691.01 million, a PE ratio of -39.72 and a beta of 0.14. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The firm’s fifty day moving average price is $7.61 and its two-hundred day moving average price is $8.31. Abacus Life has a fifty-two week low of $6.75 and a fifty-two week high of $12.50.

Wall Street Analyst Weigh In

Separately, B. Riley cut their price target on Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $14.30.

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.