Altisource Portfolio (ASPS) Forecasted to Post Q1 2018 Earnings of $0.60 Per Share

Altisource Portfolio (NASDAQ:ASPS) – Piper Jaffray decreased their Q1 2018 earnings per share (EPS) estimates for shares of Altisource Portfolio in a research note issued to investors on Wednesday, April 4th. Piper Jaffray analyst K. Barker now forecasts that the business services provider will post earnings per share of $0.60 for the quarter, down from their previous forecast of $0.62. Piper Jaffray also issued estimates for Altisource Portfolio’s Q2 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.93 EPS, Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.28 EPS and FY2019 earnings at $1.17 EPS.

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ASPS has been the subject of a number of other research reports. BidaskClub cut shares of Altisource Portfolio from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Zacks Investment Research raised shares of Altisource Portfolio from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Three research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $22.33.

ASPS stock opened at $25.82 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.48 and a quick ratio of 2.48. Altisource Portfolio has a one year low of $16.17 and a one year high of $46.99. The company has a market capitalization of $448.05, a price-to-earnings ratio of 9.22, a P/E/G ratio of 0.62 and a beta of 1.05.

Altisource Portfolio (NASDAQ:ASPS) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.07). Altisource Portfolio had a return on equity of 39.07% and a net margin of 33.47%. The company had revenue of $216.07 million during the quarter, compared to analysts’ expectations of $197.50 million. During the same period in the prior year, the firm earned $0.55 EPS. Altisource Portfolio’s quarterly revenue was down 9.5% on a year-over-year basis.

Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Altisource Portfolio by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,924 shares of the business services provider’s stock valued at $195,000 after purchasing an additional 358 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Altisource Portfolio by 11.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 26,709 shares of the business services provider’s stock valued at $748,000 after purchasing an additional 2,843 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Altisource Portfolio by 45.1% in the 3rd quarter. Wells Fargo & Company MN now owns 15,181 shares of the business services provider’s stock valued at $393,000 after purchasing an additional 4,718 shares in the last quarter. Laurel Wealth Advisors Inc. boosted its stake in shares of Altisource Portfolio by 8.5% in the 3rd quarter. Laurel Wealth Advisors Inc. now owns 63,986 shares of the business services provider’s stock valued at $1,654,000 after purchasing an additional 4,995 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of Altisource Portfolio in the 4th quarter valued at $140,000. 66.39% of the stock is owned by institutional investors.

In related news, major shareholder Deer Park Road Management Comp purchased 101,359 shares of the business’s stock in a transaction on Thursday, March 29th. The stock was acquired at an average price of $26.18 per share, with a total value of $2,653,578.62. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders acquired 651,359 shares of company stock valued at $17,179,079. Corporate insiders own 6.75% of the company’s stock.

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About Altisource Portfolio

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.

Earnings History and Estimates for Altisource Portfolio (NASDAQ:ASPS)

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