Altisource Residential Corp (RESI) Expected to Announce Earnings of -$0.49 Per Share

Brokerages forecast that Altisource Residential Corp (NYSE:RESI) will post earnings per share (EPS) of ($0.49) for the current quarter, Zacks reports. Two analysts have made estimates for Altisource Residential’s earnings, with the lowest EPS estimate coming in at ($0.57) and the highest estimate coming in at ($0.41). The company is scheduled to announce its next earnings report on Tuesday, May 8th.

On average, analysts expect that Altisource Residential will report full year earnings of ($1.55) per share for the current financial year, with EPS estimates ranging from ($1.75) to ($1.34). For the next fiscal year, analysts forecast that the company will post earnings of ($0.95) per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Altisource Residential.

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Altisource Residential (NYSE:RESI) last released its quarterly earnings results on Thursday, March 1st. The real estate investment trust reported ($0.70) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.11). Altisource Residential had a negative return on equity of 25.77% and a negative net margin of 196.93%. The company had revenue of $27.80 million during the quarter, compared to analysts’ expectations of $32.77 million. During the same period in the prior year, the firm earned ($1.14) EPS. Altisource Residential’s quarterly revenue was up 129.8% on a year-over-year basis.

A number of equities analysts have commented on RESI shares. ValuEngine cut shares of Altisource Residential from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. JMP Securities raised shares of Altisource Residential from a “market perform” rating to an “outperform” rating and set a $15.00 price target for the company in a research note on Tuesday, January 30th. Finally, Zacks Investment Research cut shares of Altisource Residential from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 13th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $15.67.

Institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System boosted its stake in shares of Altisource Residential by 18.5% in the 3rd quarter. California Public Employees Retirement System now owns 241,173 shares of the real estate investment trust’s stock valued at $2,679,000 after purchasing an additional 37,573 shares in the last quarter. State Street Corp boosted its stake in shares of Altisource Residential by 2.2% in the 2nd quarter. State Street Corp now owns 1,044,350 shares of the real estate investment trust’s stock valued at $13,515,000 after purchasing an additional 22,625 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Altisource Residential in the 3rd quarter valued at $1,188,000. Forsta AP Fonden purchased a new stake in shares of Altisource Residential in the 3rd quarter valued at $454,000. Finally, Tahithromos L.L.C. boosted its stake in shares of Altisource Residential by 21.3% in the 3rd quarter. Tahithromos L.L.C. now owns 725,335 shares of the real estate investment trust’s stock valued at $8,058,000 after purchasing an additional 127,457 shares in the last quarter. 79.29% of the stock is owned by institutional investors.

Altisource Residential (NYSE:RESI) traded up $0.02 during mid-day trading on Thursday, reaching $10.17. 250,221 shares of the company’s stock were exchanged, compared to its average volume of 319,933. Altisource Residential has a fifty-two week low of $9.76 and a fifty-two week high of $15.66. The stock has a market cap of $547.88, a PE ratio of -2.93 and a beta of 1.70.

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Altisource Residential Company Profile

Front Yard Residential Corporation, formerly 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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