Commercial real estate lender Ladder Capital (NYSE: LADR) will be announcing earnings results this Thursday before market open. Here’s what you need to know.
Ladder Capital missed analysts’ revenue expectations last quarter, reporting revenues of $50.47 million, down 26.4% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ tangible book value per share estimates and a significant miss of analysts’ revenue 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 grow 1.2% year on year, a reversal from the 18.9% 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 to 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 Q1 results, giving us a hint as to what we can expect. WaFd Bank delivered year-on-year revenue growth of 10.5%, beating analysts’ expectations by 4%, and Columbia Financial reported revenues up 18.5%, topping estimates by 9.1%. WaFd Bank traded up 7.7% following the results while Columbia Financial was down 2.2%.
Read our full analysis of WaFd Bank’s results here and Columbia Financial’s results here.
There has been positive sentiment among investors in the banks segment, with share prices up 8.8% on average over the last month. Ladder Capital is up 2.6% during the same time and is heading into earnings with an average analyst price target of $12.36 (compared to the current share price of $10.21).
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