Commercial real estate lender Ladder Capital (NYSE: LADR) will be reporting results this Thursday morning. Here’s what you need to know.
Ladder Capital missed analysts’ revenue expectations last quarter, reporting revenues of $51.91 million, up 1.2% year on year. It was a softer quarter for the company, with a significant miss of analysts’ tangible book value per share estimates and a significant miss of analysts’ net interest income estimates.
Is Ladder Capital a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ladder Capital’s revenue to be flat year on year, improving from the 21.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ladder Capital has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Ladder Capital’s peers in the banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and Citigroup reported revenues up 14.3%, topping estimates by 4.5%. Citigroup traded down 4.1% following the results.
Read our full analysis of OFG Bancorp’s results here and Citigroup’s results here.
There has been positive sentiment among investors in the banks segment, with share prices up 4.8% on average over the last month. Ladder Capital is down 2.6% during the same time and is heading into earnings with an average analyst price target of $12.32 (compared to the current share price of $10.05).
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