Brokerages Expect Varex Imaging Corp (VREX) Will Post Quarterly Sales of $175.98 Million

Brokerages predict that Varex Imaging Corp (NASDAQ:VREX) will report sales of $175.98 million for the current quarter, Zacks reports. Two analysts have made estimates for Varex Imaging’s earnings. The highest sales estimate is $176.40 million and the lowest is $175.55 million. Varex Imaging reported sales of $176.20 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.1%. The company is scheduled to announce its next earnings results after the market closes on Tuesday, February 5th.

On average, analysts expect that Varex Imaging will report full-year sales of $763.60 million for the current fiscal year, with estimates ranging from $760.10 million to $767.10 million. For the next financial year, analysts forecast that the firm will report sales of $780.41 million, with estimates ranging from $770.70 million to $790.11 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Varex Imaging.

Varex Imaging (NASDAQ:VREX) last posted its earnings results on Tuesday, November 13th. The company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). Varex Imaging had a return on equity of 11.96% and a net margin of 3.56%. The firm had revenue of $204.80 million for the quarter, compared to analysts’ expectations of $192.10 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year.

A number of brokerages recently issued reports on VREX. Zacks Investment Research upgraded Varex Imaging from a “sell” rating to a “hold” rating in a report on Saturday, December 8th. Sidoti started coverage on shares of Varex Imaging in a research note on Wednesday, January 16th. They set a “buy” rating and a $35.00 price objective for the company. Jefferies Financial Group restated a “buy” rating on shares of Varex Imaging in a research note on Thursday, November 15th. TheStreet downgraded shares of Varex Imaging from a “c-” rating to a “d+” rating in a research note on Friday, October 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Varex Imaging from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.25.

Shares of NASDAQ VREX traded down $0.33 during mid-day trading on Friday, hitting $28.16. The company had a trading volume of 182,855 shares, compared to its average volume of 268,794. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 2.09 and a beta of 1.61. Varex Imaging has a 12 month low of $21.57 and a 12 month high of $39.39. The company has a current ratio of 3.01, a quick ratio of 1.47 and a debt-to-equity ratio of 0.85.

A number of large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Varex Imaging by 32.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,907 shares of the company’s stock worth $69,000 after buying an additional 715 shares during the last quarter. Confluence Investment Management LLC increased its stake in shares of Varex Imaging by 1.1% in the 4th quarter. Confluence Investment Management LLC now owns 146,703 shares of the company’s stock worth $3,474,000 after acquiring an additional 1,527 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Varex Imaging by 4.7% during the 4th quarter. SG Americas Securities LLC now owns 34,948 shares of the company’s stock worth $828,000 after purchasing an additional 1,571 shares during the last quarter. Scout Investments Inc. boosted its stake in shares of Varex Imaging by 2.8% in the 3rd quarter. Scout Investments Inc. now owns 90,350 shares of the company’s stock valued at $2,589,000 after buying an additional 2,489 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Varex Imaging by 1.0% in the 2nd quarter. Renaissance Technologies LLC now owns 271,900 shares of the company’s stock valued at $10,085,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

About Varex Imaging

Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.

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