loanDepot-LoanDepot (LDI) Beats Q3 Earnings and Revenue Estimates

Group 1: Earnings Performance - LoanDepot reported quarterly earnings of $0.03 per share, exceeding the Zacks Consensus Estimate of a loss of$ 0.03 per share, compared to a loss of $0.15 per share a year ago, representing an earnings surprise of 200% [1] - The company posted revenues of$ 314.6 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 9.87%, compared to year-ago revenues of $265.66 million [2] - Over the last four quarters, LoanDepot has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Group 2: Stock Performance and Outlook - LoanDepot shares have declined approximately 40.9% since the beginning of the year, while the S&P 500 has gained 19.8% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is -$ 0.03 on $272 million in revenues, and -$ 0.25 on $1.05 billion in revenues for the current fiscal year [7] Group 3: Industry Context - The Financial - Mortgage & Related Services industry, to which LoanDepot belongs, is currently in the top 6% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact LoanDepot's stock performance [5] - The Zacks Rank for LoanDepot is currently 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6]