Northland Capmk Weighs in on Abacus Life Q3 Earnings

Abacus Life, Inc. (NASDAQ:ABL) – Equities research analysts at Northland Capmk issued their Q3 2024 EPS estimates for Abacus Life in a research report issued to clients and investors on Thursday, October 24th. Northland Capmk analyst M. Grondahl expects that the company will earn $0.14 per share for the quarter. Northland Capmk currently 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 $0.14 EPS, FY2024 earnings at $0.57 EPS, Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.19 EPS, Q4 2025 earnings at $0.22 EPS and FY2025 earnings at $0.74 EPS.

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

Other equities research analysts also recently issued reports about the stock. TD Cowen assumed coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 price target for the company. B. Riley reaffirmed a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. B. Riley Financial reissued a “buy” rating and issued a $16.00 target price on shares of Abacus Life in a report on Friday, August 30th. Finally, Northland Securities assumed coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $14.30.

Abacus Life Trading Down 0.3 %

NASDAQ:ABL opened at $9.00 on Monday. Abacus Life has a 1 year low of $5.75 and a 1 year high of $13.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a fifty day moving average price of $9.91 and a two-hundred day moving average price of $10.26. The stock has a market capitalization of $575.33 million, a price-to-earnings ratio of 450.00 and a beta of 0.12.

Institutional Trading of Abacus Life

Several institutional investors have recently made changes to their positions in the stock. Evernest Financial Advisors LLC purchased a new position in shares of Abacus Life in the 3rd quarter worth about $681,000. Richard W. Paul & Associates LLC raised its holdings in Abacus Life by 27.8% in the third quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock valued at $394,000 after buying an additional 8,454 shares during the period. Mendon Capital Advisors Corp acquired a new position in Abacus Life during the second quarter valued at approximately $4,974,000. Clearbridge Investments LLC purchased a new stake in Abacus Life during the second quarter worth approximately $4,342,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Abacus Life in the second quarter worth $5,190,000.

Abacus Life Company Profile

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.