Ares Commercial Real Estate Corp reports results for the quarter ended in September 30 - Earnings Summary

Ares Commercial Real Estate

07/11/2024 14:43

* Ares Commercial Real Estate Corp  ACRE.N  reported a
quarterly
adjusted loss of 11 cents​​ per share for the quarter ended
September 30, lower than the same quarter last year, when the
company reported EPS of 17 cents.  The mean expectation of
eight analysts for the quarter was for earnings of 4 cents per
share. Wall Street expected results to range from -17 cents
to 18 cents per share.
    * Revenue fell 30.3% to $16.65 million from a year ago;
analysts
expected $16.74 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 $5.88 million.
    * Ares Commercial Real Estate Corp shares had fallen by 7.3%
this
quarter and lost 37.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 247.6%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

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 2 "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 November 7 at
02:42 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
 Sep. 30 2024      0.04           -0.11          Missed
 Jun. 30 2024      0.12                          
 Mar. 31 2024      -0.23          -0.23          Met
 Dec. 31 2023      -0.01          -0.73          Missed