B. Riley comments on Abacus Life, Inc.’s earnings. in Q3 2024 (NASDAQ:ABL)

Abacus Life, Inc. (NASDAQ:ABL – Free Report) – Equities research analysts at B. Riley boosted their Q3 2024 EPS estimates for Abacus Life in a note issued to investors on Thursday, August 29th. B. Riley analyst M. Howlett now anticipates that the company will post earnings per share of $0.14 for the quarter, up from their prior estimate of $0.12. B. Riley currently has a “Buy” rating and a $16.00 target price on the stock. The consensus estimate for Abacus Life’s current full-year earnings is $0.50 per share. B. Riley also issued estimates for Abacus Life’s FY2024 earnings at $0.58 EPS.

Abacus Life (NASDAQ:ABL – Get Your Free Report ) last released its quarterly earnings results on Monday, August 12th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.57 million. Abacus Life had a net margin of 0.11% and a return on equity of 4.96%. In the same quarter last year, the firm earned $0.13 EPS.

Several other analysts have recently weighed in on the company. TD Cowen started coverage on Abacus Life in a research note on Wednesday, August 7th. They set a “buy” rating and a $14.00 price target for the company. Piper Sandler assumed coverage on shares of Abacus Life in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 price objective on the stock. Finally, B. Riley Financial cut their price target on shares of Abacus Life from $16.00 to $15.00 and set a “buy” rating for the company in a report on Monday, June 24th . Four research analysts have rated the stock with a buy rating. The company currently has a consensus rating of “Buy” and an average target price of $14.25, according to MarketBeat.com.

Read the latest stock analysis on ABL

Abacus Life trading down 2.0%

NASDAQ:ABL opened at $10.00 on Friday. The company’s 50-day moving average is $9.54 and its 200-day moving average is $10.90. The company has a quick ratio of 3.12, a current ratio of 3.12, and a debt-to-equity ratio of 1.03. Abacus Life has a 12 month low of $5.75 and a 12 month high of $13.25. The firm has a market cap of $639.25 million, a price-to-earnings ratio of 500.00 and a beta of 0.12.

Institutional inputs and outputs

A number of institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in Abacus Life in the 2nd quarter valued at $9,909,000. Principal Financial Group Inc. bought a new stake in shares of Abacus Life in the second quarter valued at $8,105,000. Point72 Asset Management LP acquired a new stake in shares of Abacus Life in the second quarter valued at $5,190,000. Clearbridge Investments LLC bought a new position in shares of Abacus Life in the second quarter valued at approximately $4,342,000. Finally, Stieven Capital Advisors LP purchased a new position in Abacus Life in the second quarter worth approximately $2,811,000.

About Abacus Life

(Get a free report)

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. Purchases life insurance policies from consumers seeking liquidity and manages policies over time through trading, holding and/or servicing. The company was founded in 2004 and is headquartered in Orlando, Florida.

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