EXACT Sciences Co. (NASDAQ:EXAS) Expected to Announce Earnings of -$0.44 Per Share

Wall Street brokerages expect that EXACT Sciences Co. (NASDAQ:EXAS) will announce earnings of ($0.44) per share for the current quarter, according to Zacks. Four analysts have issued estimates for EXACT Sciences’ earnings, with the highest EPS estimate coming in at ($0.40) and the lowest estimate coming in at ($0.51). EXACT Sciences reported earnings per share of ($0.30) during the same quarter last year, which indicates a negative year-over-year growth rate of 46.7%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that EXACT Sciences will report full-year earnings of ($1.85) per share for the current fiscal year, with EPS estimates ranging from ($2.23) to ($1.75). For the next financial year, analysts expect that the business will report earnings of ($0.75) per share, with EPS estimates ranging from ($1.23) to ($0.59). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for EXACT Sciences.

EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Monday, July 29th. The medical research company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.26. The business had revenue of $199.87 million during the quarter, compared to analyst estimates of $182.18 million. EXACT Sciences had a negative return on equity of 29.30% and a negative net margin of 35.43%. The company’s revenue for the quarter was up 94.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.30) earnings per share.

Several equities analysts have commented on EXAS shares. BidaskClub lowered EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group raised their price objective on EXACT Sciences from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group raised their price objective on EXACT Sciences from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Craig Hallum raised their price objective on EXACT Sciences from $115.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, BTIG Research raised their price objective on EXACT Sciences to $130.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. EXACT Sciences has an average rating of “Buy” and a consensus price target of $118.91.

EXACT Sciences stock traded up $0.04 on Friday, hitting $115.07. 1,470,600 shares of the stock traded hands, compared to its average volume of 1,783,393. The company has a debt-to-equity ratio of 1.02, a quick ratio of 8.13 and a current ratio of 8.39. The stock has a market capitalization of $14.75 billion, a price-to-earnings ratio of -84.61 and a beta of 1.64. The firm has a fifty day moving average of $115.71. EXACT Sciences has a 1 year low of $47.78 and a 1 year high of $123.99.

In related news, CFO Jeffrey Thomas Elliott sold 9,845 shares of EXACT Sciences stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $105.60, for a total value of $1,039,632.00. Following the completion of the sale, the chief financial officer now directly owns 41,012 shares in the company, valued at approximately $4,330,867.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Katherine S. Zanotti sold 1,744 shares of EXACT Sciences stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.93, for a total value of $205,669.92. Following the completion of the sale, the director now owns 42,844 shares of the company’s stock, valued at $5,052,592.92. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXAS. First Hawaiian Bank grew its stake in shares of EXACT Sciences by 160.0% during the 1st quarter. First Hawaiian Bank now owns 325 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Buffington Mohr McNeal bought a new stake in shares of EXACT Sciences during the 1st quarter valued at about $30,000. Mosaic Family Wealth LLC bought a new stake in shares of EXACT Sciences during the 1st quarter valued at about $37,000. Shine Investment Advisory Services Inc. grew its stake in shares of EXACT Sciences by 130.2% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 442 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 250 shares during the period. Finally, Harvest Group Wealth Management LLC bought a new stake in shares of EXACT Sciences during the 1st quarter valued at about $39,000. Institutional investors own 86.30% of the company’s stock.

EXACT Sciences Company Profile

Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.

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Earnings History and Estimates for EXACT Sciences (NASDAQ:EXAS)

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