Redwood Trust Inc reports results for the quarter ended in December - Earnings Summary

Redwood Trust

21/02/2024 10:49

* Redwood Trust Inc  RWT.N  reported quarterly adjusted
earnings
of 5 cents​​ per share for the quarter ended in December, higher
than the same quarter last year, when the company reported EPS
of -40 cents.  The mean expectation of ten analysts for the
quarter was for earnings of 14 cents per share. Wall Street
expected results to range from 8 cents to 19 cents per share.
    * Revenue fell 25.9% to $20.00 million from a year ago;
analysts
expected $27.21 million. 
    * Redwood Trust Inc's reported EPS for the quarter was 15
cents​.
    * The company reported quarterly net income of $21 million.
    * Redwood Trust Inc shares had fallen by 12.1% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.2%
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 8 "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 Redwood Trust Inc
is $8.50 
This summary was machine generated from LSEG data February 21 at
10:49 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
 Dec. 31 2023      0.14           0.05           Missed
 Sep. 30 2023      0.16           0.09           Missed
 Jun. 30 2023      0.12           0.00           Missed
 Mar. 31 2023      0.14           0.02           Missed