Abacus Life (NASDAQ:ABL) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Abacus Life (NASDAQ:ABL) posted its quarterly earnings results on Thursday. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03, Zacks reports. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The business had revenue of $33.21 million during the quarter, compared to analysts’ expectations of $28.76 million.

Abacus Life Stock Up 6.6 %

Shares of NASDAQ ABL opened at $7.62 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The company has a 50-day moving average price of $7.62 and a 200-day moving average price of $8.30. The stock has a market capitalization of $736.43 million, a P/E ratio of -42.33 and a beta of 0.14. Abacus Life has a 1 year low of $6.75 and a 1 year high of $12.50.

Analyst Ratings Changes

Separately, B. Riley reduced their target price 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 given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $14.30.

About Abacus Life

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.