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

Ares Commercial Real Estate

29/07/2022 14:33

* Ares Commercial Real Estate Corp  ACRE.N  reported
quarterly
adjusted earnings of 20 cents​​ per share for the quarter ended
in June. The mean expectation of six analysts for the quarter
was for earnings of 31 cents per share.
    * Revenue rose 27.2% to $25.15 million from a year ago;
analysts
expected $22.00 million. 
    * Ares Commercial Real Estate Corp's reported EPS for the
quarter
was 20 cents​.
    * The mean earnings estimate of analysts had fallen by
about 8.8%
in the last three months.​ 
    * In the last 30 days two analysts negatively revised
earnings
estimates 
    * Ares Commercial Real Estate Corp shares had risen by 13.3%
this
quarter and lost 4.5% so far this year.
    * The company reported quarterly net income of $10.03
million.
    * Wall Street's median 12-month price target for Ares
Commercial
Real Estate Corp is $16.00 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 

This summary was machine generated from Refinitiv data July 29
at 01:32 p.m.  ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2022      0.31           0.20           Missed
 Mar. 31 2022      0.36           0.34           Missed
 Dec. 31 2021      0.37           0.41           Beat
 Sep. 30 2021      0.34           0.37           Beat