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.)

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