Brokerages Expect Front Yard Residential Corp (NYSE:RESI) Will Announce Quarterly Sales of $53.04 Million

Wall Street brokerages predict that Front Yard Residential Corp (NYSE:RESI) will post $53.04 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Front Yard Residential’s earnings. The lowest sales estimate is $51.81 million and the highest is $54.27 million. Front Yard Residential reported sales of $54.03 million during the same quarter last year, which indicates a negative year over year growth rate of 1.8%. The business is expected to issue its next quarterly earnings report on Wednesday, February 26th.

On average, analysts expect that Front Yard Residential will report full year sales of $208.51 million for the current year, with estimates ranging from $206.75 million to $210.27 million. For the next fiscal year, analysts forecast that the firm will post sales of $237.59 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Front Yard Residential.

Front Yard Residential (NYSE:RESI) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.68) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.71). The company had revenue of $50.77 million for the quarter, compared to analyst estimates of $52.70 million. Front Yard Residential had a negative net margin of 30.66% and a negative return on equity of 15.28%.

Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Front Yard Residential from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine cut shares of Front Yard Residential from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Northland Securities reissued a “buy” rating and set a $15.00 price target on shares of Front Yard Residential in a research note on Wednesday, November 6th.

NYSE:RESI opened at $10.80 on Thursday. Front Yard Residential has a 12-month low of $8.12 and a 12-month high of $12.68. The firm has a market capitalization of $602.38 million, a PE ratio of 65.76 and a beta of 1.30. The firm has a 50-day moving average price of $11.77 and a 200 day moving average price of $11.53.

In other Front Yard Residential news, major shareholder Deer Park Road Management Comp sold 5,000 shares of Front Yard Residential stock in a transaction on Monday, August 26th. The shares were sold at an average price of $11.02, for a total value of $55,100.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in RESI. Tower Research Capital LLC TRC bought a new stake in Front Yard Residential in the 3rd quarter valued at about $65,000. Bank of Montreal Can boosted its holdings in Front Yard Residential by 331.9% in the 2nd quarter. Bank of Montreal Can now owns 5,407 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 4,155 shares during the period. Veritable L.P. acquired a new position in shares of Front Yard Residential in the 2nd quarter valued at approximately $138,000. State of Alaska Department of Revenue raised its position in shares of Front Yard Residential by 19.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 19,308 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 3,120 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Front Yard Residential by 8.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,209 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 2,069 shares in the last quarter. 76.61% of the stock is owned by institutional investors.

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 that 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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