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

Ares Commercial Real Estate

09/05/2024 14:32

* Ares Commercial Real Estate Corp  ACRE.N  reported a
quarterly
adjusted loss of 23 cents​​ per share for the quarter ended in
March, lower than the same quarter last year, when the company
reported EPS of -12 cents.  The mean expectation of
seven analysts for the quarter was for a loss of 23 cents per
share. Wall Street expected results to range from -71 cents
to 16 cents per share.
    * Revenue fell 29.5% to $18.69 million from a year ago;
analysts
expected $17.08 million. 
    * Ares Commercial Real Estate Corp's reported EPS for the
quarter
was a loss of 23 cents​.
    * The company reported a quarterly loss of $12.32 million.
    * Ares Commercial Real Estate Corp shares had fallen by 7.5%
this
quarter and lost 33.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 235.4% in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 6
"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 $7.50 
This summary was machine generated from LSEG data May 9 at 01:31
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
 Mar. 31 2024      -0.23          -0.23          Met
 Dec. 31 2023      -0.01          -0.73          Missed
 Sep. 30 2023      0.19           0.17           Missed
 Jun. 30 2023      0.28           -0.04          Missed