Firm Capital Mortgage Investment (TSE:FC) Announces Earnings Results

Firm Capital Mortgage Investment (TSE:FC) announced its quarterly earnings results on Thursday. The company reported C$0.23 earnings per share (EPS) for the quarter, FiscalAI reports. Firm Capital Mortgage Investment had a net margin of 57.32% and a return on equity of 8.24%. The company had revenue of C$14.18 million for the quarter.

Firm Capital Mortgage Investment Stock Up 0.8%

FC traded up C$0.08 during trading on Thursday, hitting C$10.58. 142,520 shares of the company’s stock traded hands, compared to its average volume of 64,403. The company’s 50 day simple moving average is C$11.18 and its two-hundred day simple moving average is C$11.82. The company has a current ratio of 0.14, a quick ratio of 17.11 and a debt-to-equity ratio of 34.45. Firm Capital Mortgage Investment has a 12-month low of C$10.28 and a 12-month high of C$12.46. The stock has a market capitalization of C$388.71 million, a price-to-earnings ratio of 11.14 and a beta of 0.53.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FC shares. TD reduced their price objective on shares of Firm Capital Mortgage Investment from C$13.00 to C$12.50 and set a “buy” rating for the company in a research note on Wednesday, October 14th. National Bank Financial dropped their target price on shares of Firm Capital Mortgage Investment from C$12.00 to C$11.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 28th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$11.75.

About Firm Capital Mortgage Investment

Firm Capital Mortgage Investment Corp is a Canadian financial provider. It acts as a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine, and equity investments. The company provides construction, equity and conventional real estate finance for include residential houses, small multi-family residential properties, mixed-use residential and others to the builder, developer, and real estate owner marketplace along with a high level of personal service to real estate investors.