Abacus Life FY2024 EPS Estimate Increased by Northland Capmk

Abacus Life, Inc. (NASDAQ:ABL) – Equities researchers at Northland Capmk upped their FY2024 earnings estimates for Abacus Life in a report issued on Friday, November 8th. Northland Capmk analyst M. Grondahl now forecasts that the company will post earnings per share of $0.64 for the year, up from their prior forecast of $0.57. Northland Capmk currently has a “Strong-Buy” rating on the stock. The consensus estimate for Abacus Life’s current full-year earnings is $0.60 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.

A number of other analysts also recently commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $13.00 target price (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. B. Riley reiterated a “buy” rating and issued a $16.00 target price (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. TD Cowen started coverage on shares of Abacus Life in a report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price on the stock. Northland Securities began coverage on shares of Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price on the stock. Finally, B. Riley Financial restated a “buy” rating and set a $16.00 price target on shares of Abacus Life in a report on Friday, August 30th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $14.50.

Abacus Life Price Performance

Shares of Abacus Life stock opened at $8.22 on Monday. Abacus Life has a 52 week low of $5.75 and a 52 week high of $13.25. 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 company’s 50-day moving average price is $9.55 and its two-hundred day moving average price is $10.00. The stock has a market cap of $613.62 million, a PE ratio of -45.66 and a beta of 0.15.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Abacus Life had a positive return on equity of 13.90% and a negative net margin of 11.65%. The company had revenue of $28.15 million for the quarter, compared to the consensus estimate of $26.08 million. During the same quarter in the previous year, the business earned $0.01 EPS.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. acquired a new position in Abacus Life in the 3rd quarter valued at approximately $614,000. Royce & Associates LP increased its stake in Abacus Life by 35.0% in the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock valued at $3,006,000 after buying an additional 77,000 shares during the period. Curi RMB Capital LLC increased its stake in Abacus Life by 2.4% in the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock valued at $5,566,000 after buying an additional 12,765 shares during the period. Principal Financial Group Inc. increased its stake in Abacus Life by 7.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock valued at $10,233,000 after buying an additional 74,172 shares during the period. Finally, Evernest Financial Advisors LLC acquired a new position in Abacus Life in the 3rd quarter valued at approximately $681,000.

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.