Orchid Island Capital Inc ORC.N reported quarterly adjusted earnings of 16 cents per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -8 cents. The mean expectation of three analysts for the quarter was for earnings of 14 cents per share. Wall Street expected results to range from 13 cents to 15 cents per share.
Revenue rose 3,422% to $23.15 million from a year ago; analysts expected $22.10 million.
Orchid Island Capital Inc's reported EPS for the quarter was a loss of 29 cents.
The company reported a quarterly loss of $33.58 million.
Orchid Island Capital Inc shares had risen by 4.7% this quarter and lost 5.7% so far this year.
FORECAST CHANGES
The mean earnings estimate of analysts had risen by about 61.5% 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 "buy" and the breakdown of recommendations is 1 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the specialized reits peer group is also "buy"
Wall Street's median 12-month price target for Orchid Island Capital Inc is $8.00, about 8.8% above its last closing price of $7.30
This summary was machine generated from LSEG data July 24 at 09:01 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)