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

Ares Commercial Real Estate

03/11/2023 13:31

* Ares Commercial Real Estate Corp  ACRE.N  reported
quarterly
adjusted earnings of 17 cents​​ per share for the quarter ended
in September, higher than the same quarter last year, when the
company reported EPS of 1 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 19 cents per
share. Wall Street expected results to range from 12 cents to 31
cents per share.
    * Revenue fell 12.4% to $23.88 million from a year ago;
analysts
expected $25.32 million. 
    * Ares Commercial Real Estate Corp's reported EPS for the
quarter
was 17 cents​.
    * The company reported quarterly net income of $9.18
million.
    * Ares Commercial Real Estate Corp shares had risen by 1.7%
this
quarter and lost 5.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 25.8%
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 2 "strong buy" or "buy," 5
"hold" and no "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 $10.00 
This summary was machine generated from LSEG data November 3 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.19           0.17           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