Abacus Life FY2024 EPS Estimate Increased by Northland Capmk

Abacus Life, Inc. (NASDAQ:ABL) – Northland Capmk lifted their FY2024 EPS estimates for Abacus Life in a research report issued to clients and investors on Friday, November 8th. Northland Capmk analyst M. Grondahl now anticipates that the company will earn $0.64 per share for the year, up from their previous estimate 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 $0.60 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.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $28.15 million for the quarter, compared to the consensus estimate of $26.08 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 13.90%. During the same quarter in the prior year, the firm earned $0.01 earnings per share.

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

Abacus Life Stock Performance

Shares of ABL opened at $8.22 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 company has a market capitalization of $613.62 million, a price-to-earnings ratio of -45.66 and a beta of 0.15. The company’s 50 day simple moving average is $9.55 and its 200 day simple moving average is $10.00. Abacus Life has a 1 year low of $5.75 and a 1 year high of $13.25.

Institutional Investors Weigh In On Abacus Life

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in Abacus Life during the 2nd quarter valued at $9,909,000. Principal Financial Group Inc. bought a new position in shares of Abacus Life in the 2nd quarter worth about $8,105,000. Point72 Asset Management L.P. bought a new position in shares of Abacus Life in the 2nd quarter worth about $5,190,000. Mendon Capital Advisors Corp bought a new position in shares of Abacus Life in the 2nd quarter worth about $4,974,000. Finally, Clearbridge Investments LLC bought a new position in shares of Abacus Life in the 2nd quarter worth about $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.