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

Tricon Residential Inc. (TSE:TCN – Get Rating) – Research analysts at Raymond James cut their FY2023 earnings per share (EPS) estimates for shares of Tricon Residential in a report released on Tuesday, May 23rd. Raymond James analyst B. Sturges now forecasts that the company will earn $0.76 per share for the year, down from their previous estimate 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.

Tricon Residential (TSE:TCN – Get Rating) last issued its quarterly earnings data 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 firm had revenue of C$245.60 million during the quarter.

Several other equities research analysts also recently commented on the company. Stifel Nicolaus decreased their price target on Tricon Residential from C$6.50 to C$5.75 in a research note on Friday, February 24th. BMO Capital Markets boosted their price target on Tricon Residential from C$13.00 to C$13.50 in a research note on Thursday, May 11th. Finally, National Bankshares decreased their price target on 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$12.79.

Tricon Residential Trading Down 1.0 %

TSE TCN opened at C$10.73 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.27 and a debt-to-equity ratio of 158.51. The stock’s 50 day moving average is C$10.66 and its 200 day moving average is C$11.02. Tricon Residential has a twelve month low of C$9.83 and a twelve month high of C$15.95. The firm has a market capitalization of C$2.92 billion, a PE ratio of 4.05 and a beta of 1.33.

Tricon Residential Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Friday, June 30th will be issued a $0.079 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.95%. This is an increase from Tricon Residential’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, June 29th. Tricon Residential’s dividend payout ratio is presently 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.