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Bridge Investment Group Holdings Inc. (BRDG) Misses Q3 Earnings and Revenue Estimates
BRDGBridge Investment (BRDG) ZACKS·2024-11-06 23:50

Core Viewpoint - Bridge Investment Group Holdings Inc. reported quarterly earnings of 0.15pershare,missingtheZacksConsensusEstimateof0.15 per share, missing the Zacks Consensus Estimate of 0.18 per share, and down from 0.22pershareayearago,indicatinganearningssurpriseof−16.670.22 per share a year ago, indicating an earnings surprise of -16.67% [1] Financial Performance - The company posted revenues of 82.47 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.97%, compared to 81.5millioninthesamequarterlastyear[2]−Overthelastfourquarters,thecompanyhassurpassedconsensusEPSestimatestwotimesandtoppedconsensusrevenueestimatestwotimes[2]StockPerformance−Sincethebeginningoftheyear,BridgeInvestmentGroupshareshaveincreasedbyapproximately12.181.5 million in the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Since the beginning of the year, Bridge Investment Group shares have increased by approximately 12.1%, while the S&P 500 has gained 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is 0.20 on revenues of 84.23million,andforthecurrentfiscalyear,itis84.23 million, and for the current fiscal year, it is 0.74 on revenues of $328.95 million [7] Industry Outlook - The Real Estate - Operations industry, to which Bridge Investment Group belongs, is currently in the top 40% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - The performance of the stock may be influenced by the overall industry outlook, as empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [5][8]