Northland Capmk Comments on Abacus Life Q3 Earnings

Abacus Life, Inc. (NASDAQ:ABL) – Northland Capmk issued their Q3 2024 earnings per share estimates for Abacus Life in a report released on Thursday, October 24th. Northland Capmk analyst M. Grondahl anticipates that the company will post earnings per share of $0.14 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.

A number of other research analysts also recently commented on ABL. Northland Securities began coverage on Abacus Life in a report on Thursday, October 24th. They set an “outperform” rating and a $13.50 target price on the stock. TD Cowen began coverage on Abacus Life in a report on Wednesday, August 7th. They set a “buy” rating and a $14.00 target price on the stock. B. Riley Financial reaffirmed a “buy” rating and set a $16.00 target price on shares of Abacus Life in a report on Friday, August 30th. Finally, B. Riley reissued a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.30.

Abacus Life Trading Down 4.1 %

Shares of ABL opened at $8.63 on Monday. 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 50-day moving average price of $9.86 and a 200 day moving average price of $10.24. Abacus Life has a one year low of $5.75 and a one year high of $13.25. The company has a market capitalization of $551.67 million, a P/E ratio of 431.50 and a beta of 0.12.

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

Hedge Funds Weigh In On Abacus Life

Several hedge funds have recently modified their holdings of ABL. Allspring Global Investments Holdings LLC bought a new stake in shares of Abacus Life during the 2nd quarter worth $9,909,000. Principal Financial Group Inc. bought a new stake in shares of Abacus Life during the 2nd quarter worth $8,105,000. Point72 Asset Management L.P. bought a new stake in shares of Abacus Life during the 2nd quarter worth $5,190,000. Mendon Capital Advisors Corp bought a new stake in shares of Abacus Life during the 2nd quarter worth $4,974,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Abacus Life during the 2nd quarter worth $4,342,000.

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.