Front Yard Residential Corp (RESI) Expected to Announce Quarterly Sales of $47.33 Million

Wall Street analysts forecast that Front Yard Residential Corp (NYSE:RESI) will post sales of $47.33 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Front Yard Residential’s earnings. The highest sales estimate is $49.10 million and the lowest is $45.56 million. Front Yard Residential reported sales of $23.67 million in the same quarter last year, which indicates a positive year over year growth rate of 100%. The business is expected to announce its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Front Yard Residential will report full year sales of $180.32 million for the current financial year, with estimates ranging from $175.71 million to $184.92 million. For the next year, analysts forecast that the business will report sales of $235.07 million per share. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Front Yard Residential.

Front Yard Residential (NYSE:RESI) last issued its quarterly earnings data on Thursday, August 9th. The real estate investment trust reported ($0.40) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.01. The firm had revenue of $40.91 million during the quarter, compared to analysts’ expectations of $42.41 million. Front Yard Residential had a negative net margin of 97.71% and a negative return on equity of 20.47%.

A number of brokerages recently issued reports on RESI. ValuEngine upgraded shares of Front Yard Residential from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research upgraded shares of Front Yard Residential from a “sell” rating to a “hold” rating in a report on Tuesday, June 12th. Finally, Credit Suisse Group upped their price target on shares of Front Yard Residential from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.00.

Hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake in shares of Front Yard Residential by 2.0% in the first quarter. Northern Trust Corp now owns 590,241 shares of the real estate investment trust’s stock valued at $5,933,000 after buying an additional 11,547 shares during the period. Barclays PLC lifted its stake in shares of Front Yard Residential by 176.0% in the first quarter. Barclays PLC now owns 21,730 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 13,858 shares during the period. SG Americas Securities LLC bought a new stake in shares of Front Yard Residential in the second quarter valued at about $149,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Front Yard Residential in the first quarter valued at about $157,000. Finally, BW Gestao de Investimentos Ltda. lifted its stake in shares of Front Yard Residential by 35.0% in the first quarter. BW Gestao de Investimentos Ltda. now owns 73,195 shares of the real estate investment trust’s stock valued at $736,000 after buying an additional 18,958 shares during the period. Institutional investors own 72.07% of the company’s stock.

NYSE:RESI traded down $0.18 during trading hours on Friday, reaching $11.34. The company’s stock had a trading volume of 312,624 shares, compared to its average volume of 319,474. Front Yard Residential has a one year low of $9.28 and a one year high of $13.07.

Front Yard Residential Company Profile

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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