Ridgepost Capital Q3 profit misses estimates

By Reuters News


Overview

  • US private markets provider's fee-paying AUM rose 21% yr/yr to over $35 bln, margins stable

  • Adjusted EPS for Q3 missed analyst expectations

  • Company repurchased $15 mln in stock and raised buyback authorization by $30 mln


Outlook

  • Company says operating environment remains fluid

  • Company expects contractual model and platform to support consistent results


Result Drivers

  • FUNDRAISING ACTIVITY - Co said Q3 results benefited from raising and deploying $1.3 bln of fee-paying AUM

  • CROSS-SELLING - Increased cross-selling across strategies contributed $1.7 bln to fundraising since June 2024

  • CONTRACTUAL MODEL - Co said contractual fee structure and platform diversity supported consistent results


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$88.90 mln

$97.35 mln (2 Analysts)

Q3 Adjusted EPS

Miss

$0.25

$0.26 (4 Analysts)

Q3 EPS

$0.09


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the investment management & fund operators peer group is "buy"

  • Wall Street's median 12-month price target for Ridgepost Capital Inc is $11.00, about 17% above its November 3 closing price of $9.40

  • The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago


Reuters Recommended Reads

  • Nov 3 - Hamilton Lane raises full-year dividend target by 11%

  • Nov 2 - India regulator backs scrapping long-term capital gains tax for foreigners, sources say

  • Nov 3 - Thomson Reuters Q3 revenue, profit miss estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk