FY2023 Earnings Estimate for Tricon Residential Inc. Issued By Raymond James (TSE:TCN)

Tricon Residential Inc. (TSE:TCN – Get Rating) – Equities researchers at Raymond James reduced their FY2023 EPS estimates for Tricon Residential in a research report issued on Tuesday, May 23rd. Raymond James analyst B. Sturges now expects that the company will post earnings of $0.76 per share for the year, down from their prior forecast of $0.78. The consensus estimate for Tricon Residential’s current full-year earnings is $0.77 per share. Raymond James also issued estimates for Tricon Residential’s Q2 2024 earnings at $0.23 EPS, Q3 2024 earnings at $0.24 EPS, Q4 2024 earnings at $0.23 EPS and FY2024 earnings at $0.88 EPS.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets upped their target price on shares of Tricon Residential from C$13.00 to C$13.50 in a research note on Thursday, May 11th. Stifel Nicolaus lowered their target price on shares of Tricon Residential from C$6.50 to C$5.75 in a research note on Friday, February 24th. Finally, National Bankshares lowered their target price on shares of Tricon Residential from C$15.00 to C$13.00 and set an “outperform” rating for the company in a research note on Monday, January 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$12.79.

Tricon Residential Trading Down 1.4 %

TCN opened at C$10.58 on Wednesday. Tricon Residential has a fifty-two week low of C$9.83 and a fifty-two week high of C$15.95. The company has a debt-to-equity ratio of 158.51, a current ratio of 0.27 and a quick ratio of 0.32. The company has a market cap of C$2.88 billion, a price-to-earnings ratio of 3.99 and a beta of 1.33. The firm has a 50 day simple moving average of C$10.65 and a 200 day simple moving average of C$11.02.

Tricon Residential (TSE:TCN – Get Rating) last posted its quarterly earnings results on Wednesday, March 1st. The company reported C$0.15 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.36 by C($0.21). The company had revenue of C$245.60 million for the quarter.

Tricon Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Friday, June 30th will be given a dividend of $0.079 per share. This is an increase from Tricon Residential’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.32 annualized dividend and a dividend yield of 2.99%. Tricon Residential’s dividend payout ratio is currently 11.70%.

Tricon Residential Company Profile

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Founded in 1988, Tricon is a rental housing company focused on serving the middle-market demographic. Tricon owns and operates approximately 31,000 single-family rental homes and multi-family rental units in 21 markets across the United States and Canada, managed with an integrated technology-enabled operating platform.