Zacks: Analysts Anticipate IRIDEX Co. (NASDAQ:IRIX) to Announce -$0.16 Earnings Per Share

Equities analysts forecast that IRIDEX Co. (NASDAQ:IRIX – Get Rating) will announce ($0.16) earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for IRIDEX’s earnings, with the highest EPS estimate coming in at ($0.14) and the lowest estimate coming in at ($0.17). IRIDEX reported earnings per share of ($0.09) in the same quarter last year, which would indicate a negative year-over-year growth rate of 77.8%. The business is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that IRIDEX will report full-year earnings of ($0.50) per share for the current fiscal year, with EPS estimates ranging from ($0.54) to ($0.45). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.25) per share, with EPS estimates ranging from ($0.34) to ($0.15). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that follow IRIDEX.

IRIDEX (NASDAQ:IRIX – Get Rating) last issued its quarterly earnings data on Thursday, March 10th. The medical equipment provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The business had revenue of $15.25 million during the quarter, compared to the consensus estimate of $15.18 million. IRIDEX had a negative return on equity of 35.55% and a negative net margin of 10.13%. During the same quarter in the prior year, the business posted ($0.01) earnings per share.

Several research analysts have commented on IRIX shares. Zacks Investment Research upgraded shares of IRIDEX from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 11th. StockNews.com assumed coverage on shares of IRIDEX in a research report on Friday. They issued a “buy” rating on the stock.

NASDAQ:IRIX traded down $0.42 during trading hours on Tuesday, hitting $2.88. The company had a trading volume of 115,445 shares, compared to its average volume of 33,775. The stock has a 50-day moving average price of $4.14 and a 200 day moving average price of $5.35. The company has a market capitalization of $45.76 million, a PE ratio of -8.23 and a beta of 1.23. IRIDEX has a 52 week low of $2.88 and a 52 week high of $9.46.

A number of hedge funds have recently bought and sold shares of IRIX. Morgan Stanley bought a new stake in IRIDEX in the 1st quarter worth about $40,000. Millennium Management LLC purchased a new stake in shares of IRIDEX during the 2nd quarter valued at about $378,000. Neuberger Berman Group LLC grew its stake in shares of IRIDEX by 35.8% in the third quarter. Neuberger Berman Group LLC now owns 75,850 shares of the medical equipment provider’s stock worth $581,000 after acquiring an additional 20,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of IRIDEX by 10.5% during the third quarter. Dimensional Fund Advisors LP now owns 202,533 shares of the medical equipment provider’s stock valued at $1,551,000 after purchasing an additional 19,180 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in IRIDEX in the third quarter valued at about $266,000. 22.10% of the stock is owned by institutional investors.

IRIDEX Company Profile (Get Rating)

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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