Zacks: Brokerages Expect Altisource Residential Corp (RESI) Will Announce Earnings of -$0.49 Per Share

Wall Street analysts expect Altisource Residential Corp (NYSE:RESI) to report earnings per share (EPS) of ($0.49) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Altisource Residential’s earnings, with estimates ranging from ($0.57) to ($0.41). The company is scheduled to report its next earnings results on Tuesday, May 8th.

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

Altisource Residential (NYSE:RESI) last posted its quarterly earnings results on Thursday, March 1st. The real estate investment trust reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $27.80 million for the quarter, compared to analyst estimates of $32.77 million. During the same period last year, the firm posted ($1.14) EPS. Altisource Residential’s quarterly revenue was up 129.8% on a year-over-year basis.



A number of equities analysts have issued reports on RESI shares. JMP Securities raised Altisource Residential from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a report on Tuesday, January 30th. Zacks Investment Research cut Altisource Residential from a “hold” rating to a “strong sell” rating in a report on Saturday, January 13th. Finally, ValuEngine cut Altisource Residential from a “sell” rating to a “strong sell” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Altisource Residential presently has an average rating of “Hold” and a consensus target price of $15.33.

A number of institutional investors and hedge funds have recently modified their holdings of the business. QS Investors LLC bought a new stake in shares of Altisource Residential in the 4th quarter valued at about $128,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of Altisource Residential in the 3rd quarter valued at about $151,000. SG Americas Securities LLC grew its position in shares of Altisource Residential by 73.5% in the 3rd quarter. SG Americas Securities LLC now owns 15,248 shares of the real estate investment trust’s stock valued at $169,000 after buying an additional 6,462 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Altisource Residential in the 4th quarter valued at about $208,000. Finally, Wolverine Trading LLC grew its position in shares of Altisource Residential by 109.4% in the 4th quarter. Wolverine Trading LLC now owns 20,526 shares of the real estate investment trust’s stock valued at $243,000 after buying an additional 10,726 shares during the last quarter. 79.28% of the stock is owned by institutional investors and hedge funds.

Shares of RESI opened at $9.75 on Wednesday. Altisource Residential has a 12-month low of $9.56 and a 12-month high of $15.66.

The company also recently announced a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Friday, March 30th were issued a $0.15 dividend. The ex-dividend date was Wednesday, March 28th. This represents a $0.60 dividend on an annualized basis and a yield of 6.15%.

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About Altisource Residential

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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