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

Redwood Trust

01/08/2024 14:32

* Redwood Trust Inc  RWT.N  reported quarterly adjusted
earnings
of 13 cents​​ per share for the quarter ended in June, higher
than the same quarter last year, when the company reported
breakeven earnings per share.  The mean expectation of
eleven analysts for the quarter was for earnings of 13 cents per
share. Wall Street expected results to range from 11 cents to 20
cents per share.
    * Revenue fell 2.7% to $25.30 million from a year ago;
analysts
expected $29.56 million. 
    * Redwood Trust Inc's reported EPS for the quarter was 10
cents​.
    * The company reported quarterly net income of $13.8
million.
    * Redwood Trust Inc shares had risen by 12.0% this
quarter and
lost 1.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.2%
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," 3
"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 $7.63 
This summary was machine generated from LSEG data August 1 at
01:32 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
 Jun. 30 2024      0.13           0.13           Met
 Mar. 31 2024      0.09           0.08           Missed
 Dec. 31 2023      0.14           0.05           Missed
 Sep. 30 2023      0.16           0.09           Missed