Jernigan Capital: 3Q Earnings Snapshot
MEMPHIS, Tenn. (AP) _ Jernigan Capital Inc. (JCAP) on Wednesday reported third-quarter earnings of $11 million.
The Memphis, Tennessee-based company said it had profit of 26 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 46 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The commercial real estate finance company posted revenue of $12.2 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $11.1 million.
Jernigan Capital expects full-year earnings in the range of $1.88 to $2 per share, with revenue in the range of $44.9 million to $45.1 million.
Jernigan Capital shares have declined almost 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.67, a decrease of nearly 6% in the last 12 months.