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

Ares Commercial Real Estate

06/08/2024 15:22

* Ares Commercial Real Estate Corp  ACRE.N  reported a
quarterly
adjusted loss of 11 cents​​ per share for the quarter ended in
January, lower than the same quarter last year, when the company
reported EPS of -4 cents.  The mean expectation of
eight analysts for the quarter was for earnings of 12 cents per
share. Wall Street expected results to range from -17 cents
to 41 cents per share.
    * Revenue fell 32.8% to $16.80 million from a year ago;
analysts
expected $18.82 million. 
    * Ares Commercial Real Estate Corp's reported EPS for the
quarter
was a loss of 11 cents​.
    * The company reported a quarterly loss of $6.13 billion.
    * Ares Commercial Real Estate Corp shares had risen by 4.7%
this
quarter and lost 32.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 39.5%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 7
"hold" and 1 "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 $7.00 
This summary was machine generated from LSEG data August 6 at
02:22 p.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
 Jun. 30 2024      0.12           -0.11          Missed
 Mar. 31 2024      -0.23          -0.23          Met
 Dec. 31 2023      -0.01          -0.73          Missed
 Sep. 30 2023      0.19           0.17           Missed