-$0.12 Earnings Per Share Expected for IRIDEX Co. (NASDAQ:IRIX) This Quarter

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Wall Street brokerages forecast that IRIDEX Co. (NASDAQ:IRIX) will report earnings per share of ($0.12) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for IRIDEX’s earnings. IRIDEX reported earnings of ($0.11) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 9.1%. The business is expected to issue its next quarterly earnings report on Thursday, March 11th.

According to Zacks, analysts expect that IRIDEX will report full year earnings of ($0.57) per share for the current fiscal year, with EPS estimates ranging from ($0.57) to ($0.56). For the next financial year, analysts anticipate that the firm will report earnings of ($0.31) per share, with EPS estimates ranging from ($0.31) to ($0.30). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for IRIDEX.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings data on Monday, November 9th. The medical equipment provider reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.06. IRIDEX had a negative return on equity of 38.60% and a negative net margin of 21.54%. The firm had revenue of $8.80 million during the quarter, compared to the consensus estimate of $7.79 million.

A number of equities research analysts have issued reports on the stock. Roth Capital raised their price target on shares of IRIDEX from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Wednesday. ValuEngine raised IRIDEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 5th. Finally, Zacks Investment Research raised IRIDEX from a “sell” rating to a “hold” rating in a research report on Wednesday.

NASDAQ:IRIX traded up $0.99 during midday trading on Wednesday, reaching $5.12. 1,629,393 shares of the stock traded hands, compared to its average volume of 1,717,233. The stock has a market capitalization of $71.16 million, a P/E ratio of -9.31 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.01 and a current ratio of 2.77. The company has a fifty day moving average of $2.10 and a 200 day moving average of $2.02. IRIDEX has a 12 month low of $1.22 and a 12 month high of $5.29.

An institutional investor recently bought a new position in IRIDEX stock. Perkins Capital Management Inc. acquired a new stake in shares of IRIDEX Co. (NASDAQ:IRIX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 103,846 shares of the medical equipment provider’s stock, valued at approximately $204,000. Perkins Capital Management Inc. owned 0.75% of IRIDEX at the end of the most recent quarter. 32.32% of the stock is currently owned by hedge funds and other institutional investors.

IRIDEX Company Profile

IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic based laser systems, delivery devices, and consumable instrumentation to treat sight-threatening eye diseases in ophthalmology. It offers laser consoles, such as Cyclo G6 laser system for use in the treatment of glaucoma; IQ 532 and IQ 577 laser photocoagulation systems, which are used for the treatment of diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.

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