Ares Commercial Real Estate Corp reports results for the quarter ended in December - Earnings Summary

Ares Commercial Real Estate

23/02/2024 03:13

* Ares Commercial Real Estate Corp  ACRE.N  reported a
quarterly
adjusted loss of 73 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of 5 cents.  The mean expectation of
eight analysts for the quarter was for a loss of one cent per
share. Wall Street expected results to range from -56 cents
to 33 cents per share.
    * Revenue fell 52.7% to $14.39 million from a year ago;
analysts
expected $23.89 million. 
    * Ares Commercial Real Estate Corp's reported EPS for the
quarter
was a loss of 73 cents​.
    * The company reported a quarterly loss of $39.41 million.
    * Ares Commercial Real Estate Corp shares had fallen
by 20.9% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 86.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 7
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the specialized
reits
peer group is also "hold"

Wall Street's median 12-month price target for Ares Commercial
Real Estate Corp is $10.25 
This summary was machine generated from LSEG data February 23 at
03:13 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      -0.01          -0.73          Missed
 Sep. 30 2023      0.19           0.17           Missed
 Jun. 30 2023      0.28           -0.04          Missed
 Mar. 31 2023      0.23           -0.12          Missed