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

Velocity Financial

03/05/2024 20:22

* Velocity Financial Inc  VEL.N  reported quarterly adjusted
earnings of 51 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of 33 cents.  The mean expectation of four analysts
for the quarter was for earnings of 39 cents per share. Wall
Street expected results to range from 38 cents to 40 cents per
share.
    * Revenue rose 52.3% to $55.25 million from a year ago;
analysts
expected $46.20 million. 
    * Velocity Financial Inc's reported EPS for the quarter was
49
cents​.
    * The company reported quarterly net income of $17.03
million.
    * Velocity Financial Inc shares had fallen by 3.7% this
quarter and gained 0.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged 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 4 "strong buy" or "buy," no
"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 $18.50 
This summary was machine generated from LSEG data May 3 at 07:21
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
 Mar. 31 2024      0.39           0.51           Beat
 Dec. 31 2023      0.38           0.46           Beat
 Sep. 30 2023      0.35           0.37           Beat
 Jun. 30 2023      0.33           0.38           Beat