Altisource Residential Corp (RESI) Expected to Post Quarterly Sales of $35.37 Million
Equities research analysts expect Altisource Residential Corp (NYSE:RESI) to announce sales of $35.37 million for the current quarter, according to Zacks. Two analysts have provided estimates for Altisource Residential Corp’s earnings. The highest sales estimate is $43.15 million and the lowest is $27.59 million. Altisource Residential Corp posted sales of $240,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 14,637.5%. The business is expected to issue its next quarterly earnings results on Monday, August 14th.
On average, analysts expect that Altisource Residential Corp will report full year sales of $35.37 million for the current financial year, with estimates ranging from $134.24 million to $175.4 million. For the next financial year, analysts anticipate that the firm will report sales of $223.99 million per share. Zacks’ sales averages are an average based on a survey of analysts that cover Altisource Residential Corp.
Altisource Residential Corp (NYSE:RESI) last announced its earnings results on Tuesday, May 9th. The real estate investment trust reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by $0.33. The firm had revenue of $29.30 million during the quarter, compared to analyst estimates of $33.38 million. Altisource Residential Corp had a negative net margin of 338.43% and a negative return on equity of 16.34%. The firm’s revenue for the quarter was down 26.9% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share.
Several brokerages recently weighed in on RESI. Credit Suisse Group AG began coverage on Altisource Residential Corp in a report on Monday, February 27th. They issued an “outperform” rating and a $15.00 price objective for the company. They noted that the move was a valuation call. Zacks Investment Research raised Altisource Residential Corp from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a report on Wednesday, May 3rd. Deutsche Bank AG lowered their price objective on Altisource Residential Corp from $17.50 to $16.00 and set a “buy” rating for the company in a report on Wednesday, March 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 price objective on shares of Altisource Residential Corp in a report on Thursday, March 2nd. Finally, Citigroup Inc boosted their price objective on Altisource Residential Corp from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, March 20th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $15.50.
In other news, CEO George G. Ellison acquired 10,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average cost of $14.24 per share, with a total value of $142,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.12% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its position in shares of Altisource Residential Corp 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. Quantbot Technologies LP increased its position in shares of Altisource Residential Corp 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. Utah Retirement Systems bought a new position in shares of Altisource Residential Corp during the first quarter worth approximately $157,000. GSA Capital Partners LLP bought a new position in shares of Altisource Residential Corp during the fourth quarter worth approximately $144,000. Finally, Tudor Investment Corp Et Al bought a new position in shares of Altisource Residential Corp during the fourth quarter worth approximately $159,000. 73.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Altisource Residential Corp (NYSE:RESI) traded down 0.035% during mid-day trading on Friday, hitting $14.295. The company had a trading volume of 177,071 shares. The stock’s 50-day moving average is $14.63 and its 200-day moving average is $13.07. Altisource Residential Corp has a 52-week low of $7.81 and a 52-week high of $15.66. The stock’s market cap is $765.00 million.
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Altisource Residential Corp Company Profile
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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