Analysts Anticipate Front Yard Residential Corp (RESI) to Announce $0.09 Earnings Per Share

Equities analysts forecast that Front Yard Residential Corp (NYSE:RESI) will post earnings of $0.09 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Front Yard Residential’s earnings. The highest EPS estimate is $0.11 and the lowest is $0.06. The company is scheduled to report its next earnings report on Thursday, March 7th.

On average, analysts expect that Front Yard Residential will report full year earnings of $0.25 per share for the current year, with EPS estimates ranging from $0.21 to $0.28. For the next fiscal year, analysts forecast that the business will post earnings of $0.58 per share, with EPS estimates ranging from $0.56 to $0.59. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Front Yard Residential.

Front Yard Residential (NYSE:RESI) last issued its earnings results on Wednesday, November 7th. The real estate investment trust reported ($0.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.93). Front Yard Residential had a negative return on equity of 22.74% and a negative net margin of 85.55%. The company had revenue of $48.31 million during the quarter, compared to analyst estimates of $47.33 million.

Several research analysts have recently issued reports on RESI shares. Deutsche Bank decreased their price target on Front Yard Residential from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, November 20th. Zacks Investment Research raised Front Yard Residential from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, Credit Suisse Group increased their price target on Front Yard Residential from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $14.00.

In other news, CEO George G. Ellison bought 27,900 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was acquired at an average price of $8.31 per share, with a total value of $231,849.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Deer Park Road Management Comp bought 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The shares were purchased at an average cost of $8.59 per share, with a total value of $2,577,000.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 361,133 shares of company stock valued at $3,085,218. Company insiders own 0.88% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Front Yard Residential during the 2nd quarter valued at about $733,000. Bank of New York Mellon Corp lifted its holdings in Front Yard Residential by 10.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 303,514 shares of the real estate investment trust’s stock valued at $3,163,000 after buying an additional 29,924 shares in the last quarter. SG Americas Securities LLC bought a new stake in Front Yard Residential during the 2nd quarter valued at about $149,000. Schwab Charles Investment Management Inc. lifted its holdings in Front Yard Residential by 4.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 532,476 shares of the real estate investment trust’s stock valued at $5,549,000 after buying an additional 23,502 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Front Yard Residential by 77.7% during the 2nd quarter. American Century Companies Inc. now owns 291,109 shares of the real estate investment trust’s stock valued at $3,033,000 after buying an additional 127,268 shares in the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE RESI opened at $9.70 on Tuesday. Front Yard Residential has a 1-year low of $7.99 and a 1-year high of $13.07.

About Front Yard Residential

Front Yard is an industry leader in providing quality, affordable rental homes to America's families. Our homes offer exceptional value in a variety of suburban communities which have easy accessibility to metropolitan areas. Front Yard's tenants enjoy the space and comfort that is unique to single-family housing, at reasonable prices.

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