Finance of America Companies (NYSE:FOA) Posts Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• Finance of America Companies reported a quarterly earnings per share (EPS) of $0.55, which missed analysts' expectations of $0.61 by $0.06.
• The company has a market capitalization of $253.86 million and a debt-to-equity ratio of 47.08, indicating significant leverage in its capital structure.
• UBS Group raised its price target for the stock to $25.00 while maintaining a "neutral" rating, suggesting cautious optimism about the company's future performance.

Finance of America Companies (NYSE:FOA - Get Free Report) posted its earnings results on Tuesday. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.06), Zacks reports. The firm had revenue of $177.38 million for the quarter, compared to the consensus estimate of $97.05 million.

Finance of America Companies Stock Performance

Shares of NYSE FOA traded up $0.06 during mid-day trading on Friday, reaching $24.54. 77,700 shares of the company's stock were exchanged, compared to its average volume of 94,917. The firm has a market capitalization of $271.42 million, a price-to-earnings ratio of 4.02 and a beta of 1.45. The firm has a 50-day moving average price of $22.87 and a two-hundred day moving average price of $22.31. The company has a debt-to-equity ratio of 47.08, a current ratio of 2.74 and a quick ratio of 2.74. Finance of America Companies has a 52 week low of $7.00 and a 52 week high of $32.40.

Analyst Upgrades and Downgrades

A number of analysts have commented on FOA shares. Wall Street Zen lowered Finance of America Companies from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group reaffirmed a "neutral" rating and set a $25.00 price objective (up from $22.50) on shares of Finance of America Companies in a report on Tuesday, July 15th.

Institutional Trading of Finance of America Companies

An institutional investor recently raised its position in Finance of America Companies stock. Geode Capital Management LLC boosted its position in Finance of America Companies Inc. (NYSE:FOA - Free Report) by 66.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,672 shares of the company's stock after purchasing an additional 54,429 shares during the period. Geode Capital Management LLC owned about 1.24% of Finance of America Companies worth $3,188,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 97.20% of the company's stock.

About Finance of America Companies

Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.