Abacus Global Management Inc reports results for the quarter ended June 30 - Earnings Summary

• Abacus Global Management Inc ABL.OQ reported quarterly adjusted earnings of 22 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 18 cents. The mean expectation of five analysts for the quarter was for earnings of 16 cents per share. Wall Street expected results to range from 16 cents to 17 cents per share.

• Revenue fell 69.3% to $8.92 million from a year ago; analysts expected $43.08 million.

• Abacus Global Management Inc's reported EPS for the quarter was 18 cents​.

• The company reported quarterly net income of $17.58 million.

• Abacus Global Management Inc shares had risen by 7.0% this quarter and lost 29.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1.2% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the multiline insurance & brokers peer group is also "buy"

• Wall Street's median 12-month price target for Abacus Global Management Inc is $14.00, about 60.7% above its last closing price of $5.50

This summary was machine generated from LSEG data August 8 at 05:45 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)