Brokerages Expect Finance Of America Companies Inc. (NYSE:FOA) Will Announce Earnings of $0.14 Per Share

Wall Street brokerages expect Finance Of America Companies Inc. (NYSE:FOA – Get Rating) to announce earnings of $0.14 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Finance Of America Companies’ earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.14. Finance Of America Companies reported earnings per share of $0.30 during the same quarter last year, which indicates a negative year over year growth rate of 53.3%. The company is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Finance Of America Companies will report full year earnings of $0.68 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $0.71. For the next year, analysts anticipate that the business will report earnings of $1.02 per share, with EPS estimates ranging from $0.85 to $1.18. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Finance Of America Companies.

Finance Of America Companies (NYSE:FOA – Get Rating) last released its earnings results on Monday, May 9th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). Finance Of America Companies had a negative net margin of 25.42% and a positive return on equity of 13.28%.

Several research firms recently commented on FOA. Raymond James reduced their target price on shares of Finance Of America Companies from $10.50 to $8.50 and set a “strong-buy” rating on the stock in a report on Monday, March 7th. Morgan Stanley cut their price target on shares of Finance Of America Companies from $4.00 to $3.75 and set an “equal weight” rating on the stock in a report on Friday, March 4th. Zacks Investment Research lowered shares of Finance Of America Companies from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th. Credit Suisse Group cut their price target on shares of Finance Of America Companies to $6.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Finally, The Goldman Sachs Group cut their price target on shares of Finance Of America Companies from $4.50 to $3.85 and set a “neutral” rating on the stock in a report on Monday, April 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.27.

Several large investors have recently bought and sold shares of FOA. Morgan Stanley purchased a new stake in shares of Finance Of America Companies in the 2nd quarter worth about $410,000. Bank of America Corp DE purchased a new stake in shares of Finance Of America Companies in the 2nd quarter worth about $121,000. Millennium Management LLC purchased a new stake in shares of Finance Of America Companies in the 2nd quarter worth about $120,000. SG Americas Securities LLC purchased a new position in Finance Of America Companies during the 3rd quarter valued at about $121,000. Finally, BlackRock Inc. lifted its position in Finance Of America Companies by 4.9% during the 3rd quarter. BlackRock Inc. now owns 1,830,760 shares of the company’s stock valued at $9,062,000 after acquiring an additional 86,128 shares during the period.

Shares of FOA stock remained flat at $$2.44 on Tuesday. 111,867 shares of the company traded hands, compared to its average volume of 304,226. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 10.22. Finance Of America Companies has a 52 week low of $2.13 and a 52 week high of $10.56. The firm’s 50 day moving average is $2.67 and its two-hundred day moving average is $3.55. The stock has a market cap of $152.07 million, a PE ratio of -0.36 and a beta of 0.44.

Finance Of America Companies Company Profile (Get Rating)

Finance of America Companies Inc operates a consumer lending platform in the United States. The company operates through: Mortgage Originations, Reverse Originations, Commercial Originations, Lender Services, and Portfolio Management segments. It provides residential mortgage loans to the government sponsored entities; government-insured agricultural lending solutions to farmers; product development, loan securitization, loan sales, risk management, asset management, and servicing oversight services to enterprise and third-party funds; and ancillary business services, title agency and title insurance services, mortgage servicing rights valuation and trade brokerage, transactional fulfillment services, mortgage loan third party review or due diligence services, and appraisal and capital management services to residential mortgage, student lending, and commercial lending industry customers.

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