Northland Capmk Predicts Increased Earnings for Abacus Life

Abacus Life, Inc. (NASDAQ:ABL) – Equities research analysts at Northland Capmk boosted their FY2024 earnings per share (EPS) estimates for Abacus Life in a report released on Friday, November 8th. Northland Capmk analyst M. Grondahl now expects that the company will post earnings per share of $0.64 for the year, up from their previous forecast of $0.57. Northland Capmk has a “Strong-Buy” rating on the stock. The consensus estimate for Abacus Life’s current full-year earnings is $0.57 per share. Northland Capmk also issued estimates for Abacus Life’s Q4 2024 earnings at $0.15 EPS, Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.21 EPS, Q4 2025 earnings at $0.24 EPS and FY2025 earnings at $0.78 EPS.

Abacus Life (NASDAQ:ABL) last released its earnings results on Monday, August 12th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.57 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share.

A number of other research firms have also commented on ABL. B. Riley reaffirmed a “buy” rating and set a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. B. Riley Financial reaffirmed a “buy” rating and set a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. TD Cowen initiated coverage on Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 price target on the stock. Northland Securities began coverage on Abacus Life in a research report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $13.00 price objective (up from $12.00) on shares of Abacus Life in a report on Friday. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $14.50.

Abacus Life Trading Up 2.4 %

NASDAQ:ABL opened at $9.02 on Monday. Abacus Life has a 1-year low of $5.75 and a 1-year high of $13.25. The business’s 50-day moving average price is $9.62 and its two-hundred day moving average price is $10.06. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $673.35 million, a price-to-earnings ratio of -50.11 and a beta of 0.15.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ABL. Allspring Global Investments Holdings LLC acquired a new stake in Abacus Life during the 2nd quarter worth approximately $9,909,000. Principal Financial Group Inc. lifted its holdings in Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after purchasing an additional 74,172 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Abacus Life during the 2nd quarter worth approximately $5,190,000. Curi RMB Capital LLC lifted its holdings in Abacus Life by 2.4% during the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after purchasing an additional 12,765 shares during the last quarter. Finally, Mendon Capital Advisors Corp acquired a new stake in Abacus Life during the 2nd quarter worth approximately $4,974,000.

About Abacus Life

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.