Manhattan Bridge Down 0.90% To $5.09 After Earnings Miss

Manhattan Bridge Capital Inc (LOAN) missed earnings estimates for Q1 2023 this afternoon.

Wall Street earnings per share (EPS) projections for Manhattan Bridge were at $0.13. The company missed those estimates with an EPS of $0.11. The earnings per share of $0.11 (which represents a -15% EPS surprise) led to the company's profits falling 8% compared to last year when the firm reported an EPS of $0.12. The decline in Manhattan Bridge's annual growth rate represents how the business isn't performing well amid current economic conditions.

Manhattan Bridge reported a revenue of $2.4 million in Q1 2023. The firm managed 13% growth year-over-year due to Manhattan Bridge reporting quarterly revenue of $2.1 million in its year-ago quarter. Manhattan Bridge achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is down 0.90% to $5.09 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 14. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Manhattan Bridge Capital Inc is a real estate finance company taxed as a REIT that specializes in originating, servicing and managing a portfolio of first mortgage loans. The company offers short-term, secured, non-banking loans which may renew or extend, before or after their initial term expires, to real estate investors to fund their acquisition, renovation, rehabilitation or development of residential or commercial properties located in the New York metropolitan area, including New Jersey and Connecticut, and in Florida.