loanDepot Inc reports results for the quarter ended in June - Earnings Summary

loanDepot

07/08/2024 08:12

* loanDepot Inc  LDI.N  reported a quarterly adjusted loss
of 5
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -11
cents.  The mean expectation of six analysts for the quarter was
for a loss of 9 cents per share. Wall Street expected results to
range from -10 cents to -7 cents per share.
    * Revenue fell 3.7% to $265.39 million from a year ago;
analysts
expected $265.53 million. 
    * loanDepot Inc's reported EPS for the quarter was a loss
of 18
cents​.
    * The company reported a quarterly loss of $32.21 million.
    * loanDepot Inc shares had risen by 25.5% this quarter and
lost 41.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 268%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 3
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the consumer
lending
peer group is also "hold"

Wall Street's median 12-month price target for loanDepot Inc is
$2.03 
This summary was machine generated from LSEG data August 7 at
07:11 a.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
 Jun. 30 2024      -0.09          -0.05          Beat
 Mar. 31 2024      -0.06          -0.12          Missed
 Dec. 31 2023      -0.07          -0.08          Missed
 Sep. 30 2023      -0.08          -0.08          Met