Imperial Capital Comments on Drive Shack Inc.’s FY2017 Earnings (DS)

Drive Shack Inc. (NYSE:DS) – Equities research analysts at Imperial Capital boosted their FY2017 earnings per share estimates for shares of Drive Shack in a report released on Thursday. Imperial Capital analyst G. Kelly now anticipates that the real estate investment trust will post earnings per share of ($0.41) for the year, up from their prior estimate of ($0.43). Imperial Capital also issued estimates for Drive Shack’s Q1 2018 earnings at ($0.09) EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at ($0.01) EPS, Q4 2018 earnings at $0.01 EPS and FY2019 earnings at ($0.04) EPS.

Drive Shack (NYSE:DS) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.19. The company had revenue of $81.70 million during the quarter, compared to the consensus estimate of $81.50 million. Drive Shack had a negative net margin of 12.99% and a positive return on equity of 17.68%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “Imperial Capital Comments on Drive Shack Inc.’s FY2017 Earnings (DS)” was reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.com-unik.info/2017/11/06/imperial-capital-comments-on-drive-shack-inc-s-fy2017-earnings-ds.html.

Separately, Zacks Investment Research raised Drive Shack from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Tuesday, October 24th.

Drive Shack (NYSE:DS) opened at $3.81 on Monday. The company has a market cap of $255.13, a P/E ratio of 11.55 and a beta of 1.35. Drive Shack has a 12 month low of $2.41 and a 12 month high of $4.69. The company has a quick ratio of 5.85, a current ratio of 5.85 and a debt-to-equity ratio of 1.25.

In other Drive Shack news, Director Alan L. Tyson purchased 37,760 shares of Drive Shack stock in a transaction dated Friday, November 3rd. The shares were acquired at an average cost of $3.76 per share, with a total value of $141,977.60. Following the completion of the transaction, the director now owns 228,764 shares in the company, valued at approximately $860,152.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 7.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new stake in shares of Drive Shack during the second quarter valued at $132,000. Nationwide Fund Advisors grew its holdings in shares of Drive Shack by 114.1% during the third quarter. Nationwide Fund Advisors now owns 43,582 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 23,224 shares during the last quarter. Northeast Investment Management grew its holdings in shares of Drive Shack by 155.0% during the second quarter. Northeast Investment Management now owns 46,345 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 28,170 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Drive Shack by 2,622.7% during the second quarter. The Manufacturers Life Insurance Company now owns 59,219 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 57,044 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in shares of Drive Shack during the second quarter valued at $207,000. 42.91% of the stock is currently owned by hedge funds and other institutional investors.

Drive Shack Company Profile

Drive Shack Inc, formerly Newcastle Investment Corp., is a leisure company. The Company is an owner and operator of golf-related leisure and entertainment businesses. The Company’s portfolio consists of Drive Shack, which is engaged in developing nationwide network of golf entertainment venues; American Golf Corporation, which is a golf course company, and real estate-related assets.

Earnings History and Estimates for Drive Shack (NYSE:DS)

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