Varex Imaging (NASDAQ:VREX) Updates Q3 Earnings Guidance

Varex Imaging (NASDAQ:VREX) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.05 to $0.25 for the period, compared to the consensus earnings per share estimate of $0.30. The company issued revenue guidance of $200 million to $220 million, compared to the consensus revenue estimate of $224.50 million.

Analyst Upgrades and Downgrades

Separately, TheStreet downgraded shares of Varex Imaging from a b- rating to a c rating in a report on Tuesday, February 6th.

Varex Imaging Trading Down 5.1 %

Shares of NASDAQ:VREX traded down $0.84 during midday trading on Friday, reaching $15.59. 1,030,491 shares of the company’s stock were exchanged, compared to its average volume of 267,226. The firm’s 50 day simple moving average is $17.32 and its two-hundred day simple moving average is $18.50. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.30 and a quick ratio of 2.37. The stock has a market cap of $632.95 million, a price-to-earnings ratio of 17.52, a P/E/G ratio of 2.25 and a beta of 0.72. Varex Imaging has a fifty-two week low of $14.56 and a fifty-two week high of $23.90.

Varex Imaging (NASDAQ:VREX) last released its earnings results on Thursday, May 2nd. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). The firm had revenue of $206.20 million during the quarter, compared to analyst estimates of $205.15 million. Varex Imaging had a net margin of 4.90% and a return on equity of 8.34%. The business’s revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, sell-side analysts forecast that Varex Imaging will post 0.99 EPS for the current fiscal year.

About Varex Imaging

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.