Q: Could you comment on the earnings report, also the guidance given by the company? Would you be a buyer at this price?
5i Research Answer:
EPS of 5c beat estimates of 4.3c; revenue of $66M beat estimates of $61M. New originations were $625.7M vs $571M last year. Guidance was afffirmed for 2024 but boosted for 2025 (19c to 25c vs 18c estimated). The company has streamlined its cost structure and is benefitting somewhat from lower rates. It was a good quarter. Still, we would rate it a HOLD for now after the move.