Abacus Life (NASDAQ:ABL) Issues Quarterly Earnings Results

Abacus Life (NASDAQ:ABL) announced its quarterly earnings results on Thursday. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02, Zacks reports. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%.

Abacus Life Stock Down 0.8 %

ABL stock traded down $0.06 during trading on Thursday, reaching $7.15. The stock had a trading volume of 171,527 shares, compared to its average volume of 137,922. Abacus Life has a one year low of $6.75 and a one year high of $12.50. The company’s 50 day moving average is $7.62 and its two-hundred day moving average is $8.32. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $691.01 million, a price-to-earnings ratio of -39.72 and a beta of 0.14.

Analyst Ratings Changes

Separately, B. Riley decreased their price objective on Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $14.30.

Abacus Life Company Profile

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.