Finance of America Companies (NYSE:FOA) Cut to “Neutral” at UBS Group

UBS Group cut shares of Finance of America Companies (NYSE:FOA) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has $24.00 price objective on the stock, up from their previous price objective of $14.00.

Finance of America Companies Stock Up 6.5 %

FOA opened at $22.08 on Wednesday. Finance of America Companies has a 52 week low of $4.10 and a 52 week high of $27.89. The business has a 50 day moving average price of $13.51 and a two-hundred day moving average price of $9.16. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 40.07. The company has a market cap of $219.25 million, a PE ratio of 1.89 and a beta of 1.07.

Finance of America Companies (NYSE:FOA) last released its earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.54. Finance of America Companies had a negative return on equity of 4.00% and a net margin of 18.89%. The business had revenue of $290.07 million for the quarter, compared to analyst estimates of $72.00 million. During the same quarter in the previous year, the company posted ($1.40) earnings per share. As a group, research analysts anticipate that Finance of America Companies will post 0.11 EPS for the current year.

Institutional Investors Weigh In On Finance of America Companies

A number of hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in shares of Finance of America Companies during the 2nd quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Finance of America Companies in the second quarter worth $43,000. Finally, Renaissance Technologies LLC lifted its holdings in Finance of America Companies by 2.7% in the second quarter. Renaissance Technologies LLC now owns 112,500 shares of the company’s stock valued at $55,000 after acquiring an additional 3,000 shares during the period. Institutional investors and hedge funds own 97.20% of the company’s stock.

Finance of America Companies Company Profile

Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.