Abacus Life (NASDAQ:ABL) Announces Quarterly Earnings Results, Exceeds Expectations

Abacus Life (NASDAQ:ABL - Get Free Report) released its quarterly earnings report on Thursday. For the quarter, the company reported earnings of $0.16 per share (EPS), which surpassed analysts' expectations of $0.14 by $0.02, according to Zacks Investment Research. Additionally, Abacus Life generated revenue of $33.21 million during the period, significantly exceeding the projected revenue of $28.76 million from analysts. The firm demonstrated a positive return on equity of 12.88%, although it recorded a negative net margin of 11.65%.

Market Performance

On Friday, Abacus Life's stock opened at $7.15, reflecting a slight decline of 0.8%. The company maintains a quick ratio and current ratio of 1.29, and a debt-to-equity ratio of 0.65. The fifty-day moving average for the stock is $7.61, while the two-hundred-day moving average is $8.31. Abacus Life boasts a market capitalization of approximately $691.01 million, with a P/E ratio of -39.72 and a beta of 0.14. The stock has seen a twelve-month range, hitting a low of $6.75 and a high of $12.50.

Analyst Ratings and Price Targets

In recent reports, B. Riley adjusted their price target for Abacus Life from $17.00 to $15.00 while maintaining a "buy" rating for the stock. Currently, five analysts have issued buy ratings, with one analyst giving it a strong buy rating. According to MarketBeat.com, Abacus Life holds an average rating of "Buy" and presents a consensus price target of $14.30.

Company Overview

Abacus Life, Inc. operates as an alternative asset manager that specializes in life insurance products. The company acquires life insurance policies from individuals seeking liquidity and manages these policies over time, either through trading, holding, or servicing. Established in 2004, Abacus Life is headquartered in Orlando, Florida.

Considerations for Investors

Before proceeding with investments in Abacus Life, it may be valuable to consider other options. Analysts suggest that there are potentially stronger recommendations available. Some stocks may be poised for better performance in the broader market context.

Earnings, Stocks, Investing