Orchid Island Capital Inc Down 1.79% To $6.02 After Earnings Miss

Friday, October 27, 2023 - Orchid Island Capital Inc (ORC) reported downside earnings and revenues today.

The consensus among analysts for Orchid Island Capital Inc was for an earnings per share (EPS) loss of $0.22 per share. The firm failed to meet those projections, reporting an EPS loss of $0.28 per share, a negative surprise of $0.06 (-27%). Profits rose 88% year-over-year after reporting an EPS loss of $2.40 per share in its year-ago quarter. The positive growth rate signals that the Real Estate company is performing well amid recent economic conditions.

Revenues were downbeat at $8.6 million. That represents a 160.34% decrease in revenues from the year-ago report and is 12.83% lower than consensus estimates set at $7.6 million.

The stock is down 1.79% to $6.02 after the report.

Orchid Island Capital Inc's revenues declined at a faster pace than earnings.

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

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

Orchid Island Capital Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 2, putting Orchid Island Capital Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $6.07 on October 26, 2023 and set a 52-week high on February 2, 2023 at $12.66.

Orchid Island Capital Inc invests in residential mortgage-backed securities (RMBS) across the United States. The principal and interest payments of its RMBS are guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or the Government National Mortgage Association, and are backed by single-family residential mortgage loans.