Zacks: Brokerages Expect Finance Of America Companies Inc. (NYSE:FOA) Will Post Quarterly Sales of $341.24 Million

Equities research analysts expect Finance Of America Companies Inc. (NYSE:FOAGet Rating) to announce sales of $341.24 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Finance Of America Companies’ earnings, with estimates ranging from $335.48 million to $347.00 million. Finance Of America Companies posted sales of $389.12 million during the same quarter last year, which indicates a negative year-over-year growth rate of 12.3%. The company is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Finance Of America Companies will report full-year sales of $1.28 billion for the current financial year, with estimates ranging from $1.23 billion to $1.33 billion. For the next financial year, analysts anticipate that the company will report sales of $1.51 billion, with estimates ranging from $1.40 billion to $1.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Finance Of America Companies.

Finance Of America Companies (NYSE:FOAGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Finance Of America Companies had a positive return on equity of 13.28% and a negative net margin of 25.42%.

FOA has been the subject of a number of research analyst reports. Credit Suisse Group dropped their price target on Finance Of America Companies to $6.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. Zacks Investment Research cut Finance Of America Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, May 18th. Raymond James dropped their price target on Finance Of America Companies from $10.50 to $8.50 and set a “strong-buy” rating for the company in a research report on Monday, March 7th. Morgan Stanley dropped their price target on Finance Of America Companies from $4.00 to $3.75 and set an “equal weight” rating for the company in a research report on Friday, March 4th. Finally, The Goldman Sachs Group dropped their price target on Finance Of America Companies from $4.50 to $3.85 and set a “neutral” rating for the company in a research report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.27.

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in Finance Of America Companies by 99.1% in the 3rd quarter. Royal Bank of Canada now owns 5,366 shares of the company’s stock worth $27,000 after buying an additional 2,671 shares during the last quarter. UBS Group AG boosted its stake in Finance Of America Companies by 301.6% in the 3rd quarter. UBS Group AG now owns 8,212 shares of the company’s stock worth $40,000 after buying an additional 6,167 shares during the last quarter. Capstone Financial Advisors Inc. acquired a new stake in Finance Of America Companies in the 3rd quarter worth about $50,000. Schonfeld Strategic Advisors LLC acquired a new stake in Finance Of America Companies in the 4th quarter worth about $40,000. Finally, Great Lakes Advisors LLC acquired a new stake in Finance Of America Companies in the 4th quarter worth about $41,000.

Shares of FOA stock opened at $2.51 on Thursday. Finance Of America Companies has a fifty-two week low of $2.13 and a fifty-two week high of $10.56. The business has a fifty day simple moving average of $2.62 and a 200-day simple moving average of $3.49. The company has a debt-to-equity ratio of 10.22, a quick ratio of 2.01 and a current ratio of 2.01.

About Finance Of America Companies (Get Rating)

Finance of America Companies Inc operates a consumer lending platform in the United States. The company operates through: Mortgage Originations, Reverse Originations, Commercial Originations, Lender Services, and Portfolio Management segments. It provides residential mortgage loans to the government sponsored entities; government-insured agricultural lending solutions to farmers; product development, loan securitization, loan sales, risk management, asset management, and servicing oversight services to enterprise and third-party funds; and ancillary business services, title agency and title insurance services, mortgage servicing rights valuation and trade brokerage, transactional fulfillment services, mortgage loan third party review or due diligence services, and appraisal and capital management services to residential mortgage, student lending, and commercial lending industry customers.

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