Altisource Residential Corporation (NYSE:RESI) Expected to Announce Earnings of -$0.69 Per Share
Wall Street analysts predict that Altisource Residential Corporation (NYSE:RESI) will announce earnings per share of ($0.69) for the current quarter, Zacks reports. Two analysts have provided estimates for Altisource Residential Corporation’s earnings, with the highest EPS estimate coming in at ($0.50) and the lowest estimate coming in at ($0.89). Altisource Residential Corporation posted earnings of ($1.16) per share during the same quarter last year, which would indicate a positive year over year growth rate of 40.5%. The company is expected to announce its next earnings results before the market opens on Tuesday, August 8th.
On average, analysts expect that Altisource Residential Corporation will report full year earnings of ($2.68) per share for the current fiscal year, with EPS estimates ranging from ($3.12) to ($2.24). For the next financial year, analysts forecast that the firm will report earnings of ($1.32) per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Altisource Residential Corporation.
Altisource Residential Corporation (NYSE:RESI) last issued its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported ($0.92) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by $0.33. The business had revenue of $29.30 million during the quarter, compared to analyst estimates of $33.38 million. Altisource Residential Corporation had a negative net margin of 503.37% and a negative return on equity of 21.07%. Altisource Residential Corporation’s revenue was down 26.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share.
Several equities analysts have weighed in on RESI shares. BidaskClub raised Altisource Residential Corporation from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research cut Altisource Residential Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, ValuEngine raised Altisource Residential Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Altisource Residential Corporation currently has an average rating of “Hold” and a consensus target price of $15.50.
In other Altisource Residential Corporation news, CEO George G. Ellison purchased 10,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were bought at an average price of $14.24 per share, with a total value of $142,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.12% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in Altisource Residential Corporation by 27.9% in the first quarter. Public Employees Retirement System of Ohio now owns 7,437 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 1,623 shares during the last quarter. SG Americas Securities LLC purchased a new position in Altisource Residential Corporation during the second quarter worth about $114,000. GSA Capital Partners LLP purchased a new position in Altisource Residential Corporation during the fourth quarter worth about $144,000. Quantbot Technologies LP increased its position in Altisource Residential Corporation by 1,008.9% in the first quarter. Quantbot Technologies LP now owns 9,758 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 8,878 shares during the last quarter. Finally, Utah Retirement Systems purchased a new position in Altisource Residential Corporation during the first quarter worth about $157,000. Institutional investors and hedge funds own 73.91% of the company’s stock.
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Shares of Altisource Residential Corporation (NYSE:RESI) opened at 12.42 on Friday. Altisource Residential Corporation has a 1-year low of $9.42 and a 1-year high of $15.66. The firm’s 50 day moving average is $13.03 and its 200 day moving average is $13.67. The firm’s market capitalization is $664.66 million.
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.83%. The ex-dividend date was Wednesday, June 28th. Altisource Residential Corporation’s payout ratio is -14.02%.
About Altisource Residential Corporation
Altisource Residential Corporation is a real estate investment trust (REIT). The Company focuses on acquiring, owning and managing single-family rental (SFR) properties throughout the United States. The Company conducts its activities through its subsidiary, Altisource Residential, L.P., and its subsidiaries.
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