Private markets investment firm Ridgepost Capital (NYSE: RPC) will be reporting earnings this Wednesday morning. Here’s what to expect.
Ridgepost Capital missed analysts’ revenue expectations last quarter, reporting revenues of $75.35 million, up 11.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EBITDA estimates.
Is Ridgepost 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 Ridgepost Capital’s revenue to grow 7.6% year on year, improving from the 2% increase 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. Ridgepost Capital has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Ridgepost Capital’s peers in the custody bank segment, some have already reported their Q2 results, giving us a hint as to what we can expect. WisdomTree delivered year-on-year revenue growth of 57.3%, beating analysts’ expectations by 3.4%, and BNY reported revenues up 13.3%, topping estimates by 5.4%. WisdomTree traded up 11.5% following the results while BNY was also up 4.1%.
Read our full analysis of WisdomTree’s results here and BNY’s results here.
There has been positive sentiment among investors in the custody bank segment, with share prices up 4.9% on average over the last month. Ridgepost Capital is up 16.5% during the same time and is heading into earnings with an average analyst price target of $13.50 (compared to the current share price of $9.14).
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