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

Ares Commercial Real Estate

02/08/2023 14:33

* Ares Commercial Real Estate Corp  ACRE.N  reported a
quarterly
adjusted loss of 4 cents​​ per share for the quarter ended in
June. The mean expectation of seven analysts for the quarter was
for earnings of 28 cents per share.
    * Revenue fell 0.6% to $24.99 million from a year ago;
analysts
expected $26.48 million. 
    * Ares Commercial Real Estate Corp's reported EPS for the
quarter
was a loss of 4 cents​.
    * The mean earnings estimate of analysts had fallen by
about 10.1%
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 2.8%
this
quarter and gained 1.8% so far this year.
    * The company reported a quarterly loss of $2.2 million.
    * Wall Street's median 12-month price target for Ares
Commercial
Real Estate Corp is $10.50 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data
August 2 at 01:33 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2023      0.28           -0.04          Missed
 Mar. 31 2023      0.23           -0.12          Missed
 Dec. 31 2022      0.33           0.05           Missed
 Sep. 30 2022      0.32           0.01           Missed