08/10/2022

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Finance Of America Companies Inc. (NYSE:FOA) Expected to Post Quarterly Sales of $404.76 Million

Wall Street brokerages predict that Finance Of America Companies Inc. (NYSE:FOAGet Rating) will post $404.76 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Finance Of America Companies’ earnings. The lowest sales estimate is $403.52 million and the highest is $406.00 million. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Finance Of America Companies will report full-year sales of $1.64 billion for the current financial year, with estimates ranging from $1.59 billion to $1.69 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.79 billion, with estimates ranging from $1.68 billion to $1.90 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Finance Of America Companies.

Finance Of America Companies (NYSE:FOAGet Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $382.95 million for the quarter, compared to analyst estimates of $425.62 million.

FOA has been the topic of several research reports. Credit Suisse Group dropped their price target on Finance Of America Companies from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 23rd. Zacks Investment Research raised Finance Of America Companies from a “strong sell” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group dropped their price target on Finance Of America Companies from $4.50 to $3.85 and set a “neutral” rating on the stock in a research report on Monday, April 4th. Morgan Stanley dropped their target price on Finance Of America Companies from $4.00 to $3.75 and set an “equal weight” rating on the stock in a research report on Friday, March 4th. Finally, Raymond James dropped their target price on Finance Of America Companies from $10.50 to $8.50 and set a “strong-buy” rating on the stock in a research report on Monday, March 7th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $5.47.

FOA stock opened at $2.54 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 2.02 and a quick ratio of 2.02. Finance Of America Companies has a 12-month low of $2.23 and a 12-month high of $11.60. The stock’s 50 day simple moving average is $2.86 and its 200 day simple moving average is $3.77.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Finance Of America Companies by 4.9% during the third quarter. BlackRock Inc. now owns 1,830,760 shares of the company’s stock valued at $9,062,000 after purchasing an additional 86,128 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Finance Of America Companies during the fourth quarter valued at $4,476,000. State Street Corp increased its holdings in shares of Finance Of America Companies by 3.3% during the fourth quarter. State Street Corp now owns 470,679 shares of the company’s stock valued at $1,869,000 after purchasing an additional 15,221 shares during the period. Geode Capital Management LLC increased its holdings in shares of Finance Of America Companies by 6.5% during the third quarter. Geode Capital Management LLC now owns 441,313 shares of the company’s stock valued at $2,184,000 after purchasing an additional 26,830 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Finance Of America Companies during the fourth quarter valued at $1,382,000.

Finance Of America Companies Company Profile (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.

Further Reading

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