Chembio Diagnostics, Inc. (NASDAQ:CEMI) Expected to Post Earnings of -$0.37 Per Share

Analysts expect Chembio Diagnostics, Inc. (NASDAQ:CEMIGet Rating) to post ($0.37) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Chembio Diagnostics’ earnings. Chembio Diagnostics posted earnings of ($0.22) per share during the same quarter last year, which suggests a negative year over year growth rate of 68.2%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Chembio Diagnostics will report full year earnings of ($1.36) per share for the current year. For the next fiscal year, analysts expect that the business will post earnings of ($1.27) per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Chembio Diagnostics.

Chembio Diagnostics (NASDAQ:CEMIGet Rating) last issued its quarterly earnings data on Thursday, March 3rd. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Chembio Diagnostics had a negative net margin of 70.90% and a negative return on equity of 89.24%. The business had revenue of $20.57 million for the quarter. During the same period in the previous year, the company posted ($0.35) EPS.

CEMI has been the topic of several research reports. StockNews.com initiated coverage on Chembio Diagnostics in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research downgraded Chembio Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, March 9th. Finally, Colliers Securities reissued a “neutral” rating on shares of Chembio Diagnostics in a research report on Tuesday, March 22nd.

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Chembio Diagnostics by 2,264.1% during the 4th quarter. JPMorgan Chase & Co. now owns 33,452 shares of the company’s stock worth $38,000 after purchasing an additional 32,037 shares during the period. Marshall Wace North America L.P. acquired a new stake in Chembio Diagnostics during the 1st quarter worth about $48,000. Signaturefd LLC acquired a new stake in Chembio Diagnostics during the 3rd quarter worth about $50,000. Jump Financial LLC grew its position in Chembio Diagnostics by 247.7% during the 3rd quarter. Jump Financial LLC now owns 37,900 shares of the company’s stock worth $95,000 after purchasing an additional 27,000 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Chembio Diagnostics during the 4th quarter valued at about $105,000. 11.71% of the stock is currently owned by institutional investors.

Shares of NASDAQ CEMI traded down $0.00 during mid-day trading on Tuesday, hitting $0.73. The stock had a trading volume of 400 shares, compared to its average volume of 393,159. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.74 and a current ratio of 3.59. The company has a 50 day moving average of $0.84 and a two-hundred day moving average of $1.42. Chembio Diagnostics has a twelve month low of $0.65 and a twelve month high of $7.34. The firm has a market cap of $22.14 million, a PE ratio of -0.53 and a beta of 1.63.

About Chembio Diagnostics (Get Rating)

Chembio Diagnostics, Inc engages in the developing, manufacturing, marketing, and licensing rapid medical tests. It offers rapid point-of-care tests for infectious, tropical and fever, and respiratory diseases; handheld analyzers; and veterinary products. The firm distributes its products to hospitals and clinics, physician offices, clinical laboratories, public health organizations, government agencies, and consumers.

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