Zacks: Analysts Expect Altisource Portfolio Solutions S.A. (ASPS) Will Post Quarterly Sales of $218.00 Million
Analysts expect that Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) will post $218.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Altisource Portfolio Solutions’ earnings, with the lowest sales estimate coming in at $211.00 million and the highest estimate coming in at $225.00 million. Altisource Portfolio Solutions posted sales of $250.69 million in the same quarter last year, which suggests a negative year-over-year growth rate of 13%. The business is scheduled to issue its next earnings report on Wednesday, August 8th.
On average, analysts expect that Altisource Portfolio Solutions will report full-year sales of $835.45 million for the current financial year, with estimates ranging from $805.00 million to $865.90 million. For the next financial year, analysts forecast that the company will report sales of $723.00 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Altisource Portfolio Solutions.
Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its earnings results on Thursday, April 26th. The business services provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Altisource Portfolio Solutions had a net margin of 34.24% and a return on equity of 24.48%. The business had revenue of $197.44 million for the quarter, compared to the consensus estimate of $218.50 million. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis.
In other Altisource Portfolio Solutions news, major shareholder Deer Park Road Management Comp bought 101,359 shares of the business’s stock in a transaction that occurred on Thursday, March 29th. The shares were bought at an average price of $26.18 per share, for a total transaction of $2,653,578.62. The purchase was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have purchased 232,442 shares of company stock worth $6,052,952. 7.83% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Laurel Wealth Advisors Inc. raised its stake in Altisource Portfolio Solutions by 33.2% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 65,595 shares of the business services provider’s stock worth $1,742,000 after buying an additional 16,340 shares during the period. Millennium Management LLC raised its stake in Altisource Portfolio Solutions by 302.8% during the 1st quarter. Millennium Management LLC now owns 42,834 shares of the business services provider’s stock worth $1,138,000 after buying an additional 32,200 shares during the period. Jane Street Group LLC acquired a new position in Altisource Portfolio Solutions during the 1st quarter worth approximately $2,533,000. Element Capital Management LLC acquired a new position in Altisource Portfolio Solutions during the 1st quarter worth approximately $472,000. Finally, A.R.T. Advisors LLC acquired a new position in Altisource Portfolio Solutions during the 1st quarter worth approximately $230,000. 68.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Altisource Portfolio Solutions opened at $28.55 on Thursday, Marketbeat reports. Altisource Portfolio Solutions has a one year low of $19.28 and a one year high of $31.49. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market cap of $476.05 million, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 2.66 and a beta of 1.01.
About Altisource Portfolio Solutions
Altisource Portfolio Solutions SA operates as an integrated service provider and marketplace for the real estate and mortgage industries in the United States. It operates in two segments, Mortgage Market and Real Estate Market. The company offers property preservation and inspection, real estate brokerage and auction, title insurance and settlement, appraisal management, broker and non-broker valuation, foreclosure trustee, residential and commercial loan servicing technology, vendor management, marketplace transaction and payment management technology, document management platform, default services technology, and mortgage charge-off collection services.
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