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

Abacus Life (NASDAQ:ABL) issued 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. 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 Trading Up 6.6 %

ABL opened at $7.62 on Friday. Abacus Life has a twelve month low of $6.75 and a twelve month high of $12.50. The company has a fifty day moving average of $7.62 and a 200-day moving average of $8.30. The stock has a market cap of $736.43 million, a PE ratio of -42.33 and a beta of 0.14. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their target price on Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.