Wall Street brokerages expect Finance Of America Companies Inc. (NYSE:FOA – Get Rating) to post $404.76 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Finance Of America Companies’ earnings, with the lowest sales estimate coming in at $403.52 million and the highest estimate coming in at $406.00 million. The firm is expected to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Finance Of America Companies will report full year sales of $1.64 billion for the current fiscal year, with estimates ranging from $1.59 billion to $1.69 billion. For the next year, analysts expect that the company will post sales of $1.79 billion, with estimates ranging from $1.68 billion to $1.90 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Finance Of America Companies.
Finance Of America Companies (NYSE:FOA – Get Rating) last released its earnings results on Wednesday, March 2nd. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $382.95 million for the quarter, compared to the consensus estimate of $425.62 million.
FOA has been the subject of several research reports. Credit Suisse Group lowered their target price on Finance Of America Companies from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, March 23rd. The Goldman Sachs Group decreased their price objective on Finance Of America Companies from $4.50 to $3.85 and set a “neutral” rating for the company in a research note on Monday, April 4th. Raymond James decreased their price objective on Finance Of America Companies from $10.50 to $8.50 and set a “strong-buy” rating for the company in a research note on Monday, March 7th. Morgan Stanley decreased their price objective on Finance Of America Companies from $4.00 to $3.75 and set an “equal weight” rating for the company in a research note on Friday, March 4th. Finally, Zacks Investment Research cut Finance Of America Companies from a “hold” rating to a “strong sell” rating in a research note on Friday, March 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.47.
Shares of Finance Of America Companies stock opened at $2.63 on Friday. The stock’s fifty day moving average is $3.15 and its two-hundred day moving average is $4.04. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 9.62. Finance Of America Companies has a 52 week low of $2.50 and a 52 week high of $11.66.
Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Finance Of America Companies by 99.1% in the third quarter. Royal Bank of Canada now owns 5,366 shares of the company’s stock valued at $27,000 after purchasing an additional 2,671 shares during the period. UBS Group AG increased its position in shares of Finance Of America Companies by 301.6% in the third quarter. UBS Group AG now owns 8,212 shares of the company’s stock valued at $40,000 after buying an additional 6,167 shares in the last quarter. Capstone Financial Advisors Inc. purchased a new stake in shares of Finance Of America Companies in the third quarter valued at approximately $50,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Finance Of America Companies in the fourth quarter valued at approximately $40,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Finance Of America Companies in the fourth quarter valued at approximately $41,000.
About Finance Of America Companies (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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