Velocity Financial Inc reports results for the quarter ended in December - Earnings Summary

Velocity Financial

08/03/2024 01:07

* Velocity Financial Inc  VEL.N  reported quarterly adjusted
earnings of 46 cents​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of 27 cents.  The mean expectation of
five analysts for the quarter was for earnings of 38 cents per
share. Wall Street expected results to range from 36 cents to 39
cents per share.
    * Revenue rose 60.6% to $51.57 million from a year ago;
analysts
expected $47.50 million. 
    * Velocity Financial Inc's reported EPS for the quarter was
50
cents​.
    * The company reported quarterly net income of $17.36
million.
    * Velocity Financial Inc shares had fallen by 6.7% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the consumer
lending
peer group is also "buy"

Wall Street's median 12-month price target for Velocity
Financial Inc is $17.00 
This summary was machine generated from LSEG data March 8 at
01:06 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      0.38           0.46           Beat
 Sep. 30 2023      0.35           0.37           Beat
 Jun. 30 2023      0.33           0.38           Beat
 Mar. 31 2023      0.29           0.33           Beat