Velocity Financial Inc reports results for the quarter ended September 30 - Earnings Summary

Velocity Financial

08/11/2024 16:28

* Velocity Financial Inc  VEL.N  reported quarterly adjusted
earnings of 47 cents​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of 37 cents.  The mean expectation of four analysts
for the quarter was for earnings of 48 cents per share. Wall
Street expected results to range from 46 cents to 51 cents per
share.
    * Revenue rose 25.3% to $55.86 million from a year ago;
analysts
expected $53.90 million. 
    * Velocity Financial Inc's reported EPS for the quarter was
44
cents​.
    * The company reported quarterly net income of $15.61
million.
    * Velocity Financial Inc shares had fallen by 0.6% this
quarter and gained 13.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 4.9%
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 3 "strong buy" or "buy," no
"hold" and 1 "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 20.50 
This summary was machine generated from LSEG data November 8 at
04:26 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
 Sep. 30 2024                     0.47           
 Jun. 30 2024                     0.45           
 Mar. 31 2024      0.39           0.51           Beat
 Dec. 31 2023      0.38           0.46           Beat