IMAC Holdings, Inc. (NASDAQ:IMAC) Expected to Announce Earnings of -$0.15 Per Share

Equities research analysts forecast that IMAC Holdings, Inc. (NASDAQ:IMAC) will announce ($0.15) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for IMAC’s earnings. IMAC posted earnings of ($0.12) per share in the same quarter last year, which would indicate a negative year over year growth rate of 25%. The firm is scheduled to issue its next earnings results on Thursday, November 11th.

According to Zacks, analysts expect that IMAC will report full-year earnings of ($0.63) per share for the current financial year. For the next year, analysts anticipate that the company will post earnings of ($0.62) per share. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for IMAC.

IMAC (NASDAQ:IMAC) last issued its quarterly earnings data on Thursday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.08). The firm had revenue of $3.47 million for the quarter, compared to analyst estimates of $3.53 million. IMAC had a negative return on equity of 43.24% and a negative net margin of 38.79%.

IMAC has been the subject of a number of research analyst reports. Industrial Alliance Securities cut IMAC to a “hold” rating and set a $1.80 target price for the company. in a research note on Friday, August 20th. National Alliance Securities cut IMAC from a “buy” rating to a “neutral” rating and lowered their target price for the company from $2.35 to $1.75 in a research note on Thursday, August 19th. Finally, Alliance Global Partners cut IMAC from a “buy” rating to a “neutral” rating in a research note on Thursday, August 19th.

A number of large investors have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new position in IMAC during the second quarter valued at $149,000. Northern Trust Corp purchased a new position in IMAC during the second quarter valued at $75,000. Vanguard Group Inc. raised its stake in IMAC by 1,145.5% during the second quarter. Vanguard Group Inc. now owns 554,032 shares of the company’s stock valued at $1,097,000 after buying an additional 509,548 shares during the last quarter. Resources Investment Advisors LLC. purchased a new position in IMAC during the second quarter valued at $37,000. Finally, Millennium Management LLC purchased a new position in IMAC during the first quarter valued at $76,000. Institutional investors and hedge funds own 17.96% of the company’s stock.

Shares of IMAC remained flat at $$1.29 on Friday. The stock had a trading volume of 20,659 shares, compared to its average volume of 69,451. The firm has a market capitalization of $32.66 million, a price-to-earnings ratio of -4.16 and a beta of -1.88. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $1.49 and its 200-day moving average price is $1.68. IMAC has a 52 week low of $0.73 and a 52 week high of $2.75.

IMAC Company Profile

IMAC Holdings, Inc provides medical services through integrated medicine and chiropractic regeneration centers. Its services include medical treatments, regenerative medicine, physical medicine, physical therapy, spinal decompression and chiropractic manipulation. The company was founded by Matthew C.

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