Analysts Anticipate RadNet Inc. (NASDAQ:RDNT) Will Announce Earnings of -$0.06 Per Share

Wall Street brokerages expect that RadNet Inc. (NASDAQ:RDNT) will post earnings of ($0.06) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for RadNet’s earnings. The highest EPS estimate is $0.01 and the lowest is ($0.13). RadNet reported earnings of $0.08 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 175%. The company is expected to announce its next earnings results on Tuesday, November 10th.

On average, analysts expect that RadNet will report full year earnings of ($0.37) per share for the current fiscal year. For the next year, analysts expect that the company will post earnings of $0.45 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover RadNet.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Monday, August 10th. The medical research company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.28. RadNet had a negative net margin of 1.25% and a negative return on equity of 4.28%. The firm had revenue of $190.60 million for the quarter, compared to analysts’ expectations of $190.58 million. During the same quarter in the prior year, the business earned $0.12 EPS. The business’s quarterly revenue was down 34.1% on a year-over-year basis.

Several brokerages have recently weighed in on RDNT. Raymond James increased their price objective on shares of RadNet from $18.50 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Zacks Investment Research raised shares of RadNet from a “sell” rating to a “hold” rating and set a $20.00 target price for the company in a report on Wednesday, August 12th. Finally, BidaskClub raised shares of RadNet from a “hold” rating to a “buy” rating in a report on Tuesday, October 13th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $21.67.

In related news, insider Norman R. Hames sold 20,000 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $15.53, for a total value of $310,600.00. Following the completion of the sale, the insider now directly owns 507,067 shares of the company’s stock, valued at approximately $7,874,750.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.77% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in RadNet by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,592,054 shares of the medical research company’s stock valued at $41,137,000 after buying an additional 7,402 shares in the last quarter. Beck Mack & Oliver LLC grew its holdings in RadNet by 2.1% during the 2nd quarter. Beck Mack & Oliver LLC now owns 1,934,444 shares of the medical research company’s stock valued at $30,700,000 after buying an additional 39,175 shares in the last quarter. State Street Corp grew its holdings in RadNet by 7.3% during the 1st quarter. State Street Corp now owns 1,306,749 shares of the medical research company’s stock valued at $13,734,000 after buying an additional 88,973 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in RadNet by 24.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,011,692 shares of the medical research company’s stock valued at $10,633,000 after buying an additional 200,808 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in RadNet by 7.2% during the 1st quarter. Geode Capital Management LLC now owns 615,166 shares of the medical research company’s stock valued at $6,465,000 after buying an additional 41,127 shares in the last quarter. 67.33% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:RDNT traded down $0.30 during trading on Friday, hitting $16.77. The company’s stock had a trading volume of 127,124 shares, compared to its average volume of 359,063. The company has a 50-day moving average of $15.47 and a 200-day moving average of $15.13. RadNet has a 12 month low of $5.81 and a 12 month high of $23.45. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $864.66 million, a price-to-earnings ratio of -62.09 and a beta of 1.54.

About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.

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