Velocity Financial Inc reports results for the quarter ended December 31 - Earnings Summary

• Velocity Financial Inc VEL.N reported quarterly adjusted earnings of 60 cents​​ per share for the quarter ended December 31, higher than the same quarter last year, when the company reported EPS of 46 cents. The mean expectation of four analysts for the quarter was for earnings of 48 cents per share. Wall Street expected results to range from 46 cents to 53 cents per share.

• Revenue rose 38% to $71.17 million from a year ago; analysts expected $55.10 million.

• Velocity Financial Inc's reported EPS for the quarter was 57 cents​.

• The company reported quarterly net income of $20.59 million.

• Velocity Financial Inc shares had fallen by 4.3% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts was unchanged in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," no "hold" and 1 "sell" or "strong sell."

• The average consensus recommendation for the consumer lending peer group is also "buy"

Wall Street's median 12-month price target for Velocity Financial Inc is $22.00

This summary was machine generated from LSEG data March 6 at 10:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)