Zacks: Analysts Anticipate Altisource Residential Corporation (RESI) Will Announce Quarterly Sales of $30.37 Million

Analysts expect Altisource Residential Corporation (NYSE:RESI) to announce sales of $30.37 million for the current quarter, according to Zacks. Two analysts have made estimates for Altisource Residential’s earnings, with the highest sales estimate coming in at $37.11 million and the lowest estimate coming in at $23.62 million. Altisource Residential posted sales of $12.06 million during the same quarter last year, which suggests a positive year over year growth rate of 151.8%. The business is scheduled to issue its next quarterly earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that Altisource Residential will report full-year sales of $30.37 million for the current financial year, with estimates ranging from $90.03 million to $114.25 million. For the next fiscal year, analysts anticipate that the company will post sales of $182.46 million per share. Zacks’ sales calculations are an average based on a survey of analysts that follow Altisource Residential.

RESI has been the subject of several research analyst reports. BidaskClub cut shares of Altisource Residential from a “sell” rating to a “strong sell” rating in a report on Saturday, September 2nd. Zacks Investment Research cut shares of Altisource Residential from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.43.

A number of hedge funds have recently added to or reduced their stakes in RESI. SG Americas Securities LLC purchased a new stake in Altisource Residential in the 2nd quarter valued at $114,000. Ladenburg Thalmann Financial Services Inc. purchased a new stake in Altisource Residential in the 3rd quarter valued at $151,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in Altisource Residential in the 3rd quarter valued at $186,000. Dynamic Technology Lab Private Ltd purchased a new stake in Altisource Residential in the 3rd quarter valued at $231,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Altisource Residential in the 2nd quarter valued at $294,000. Hedge funds and other institutional investors own 70.48% of the company’s stock.

Altisource Residential (NYSE:RESI) opened at $10.76 on Friday. Altisource Residential has a twelve month low of $10.37 and a twelve month high of $15.66.

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Altisource Residential 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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