Orchid Island Posts $2.07 Adjusted Loss, Far Below 27-Cent Consensus
ORC is trading near its 52-week low of $4.75 (1.1% above the low).
Summary
Orchid Island's Q3 adjusted loss came in at $2.07 per share against a 27-cent consensus — a wide miss that follows the preliminary $0.90 net loss disclosed in the October 14 8-K. Revenue rose 119.7% to $59.13 million but still fell short of the $61.02 million analysts expected. The reported net loss was $179.2 million, with book value at $6.02, down from $7.22 at the end of Q2. The stock is trading near its 52-week low of $4.75 and has lost 32.4% year to date, and the sole analyst action in the past 30 days was a downward revision. The average rating is hold with a $7.50 median price target.
At the time of this announcement, ORC was trading at $4.80 on NYSE in the Finance sector, with a market capitalization of approximately $945.7M. The 52-week trading range was $4.75 to $8.40. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.