Builders Capital Mortgage Corp.
Lower Rates Drive Growth Prospects / Posts Record Q2 Revenue
Published: 9/5/2024
Author: FRC Analysts
Sector: Financial Services | Industry: Mortgage Finance
Ticker Symbols:
BCF - TSX 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $9 |
| Fair Value | CAD $10.09 |
| Risk | 3 |
| Week Range | CAD $8.01-9.0 |
| Shares O/S (M) | 3.16 |
| Market Cap. (M) | CAD $28 |
| Current Yield (%) | 8.9 |
| P/E (forward) | 11.3 |
| P/B | 0.97 |
- In Q2-2024, BCF recorded its highest-ever Q2 revenue (up 3% YoY), amid higher lending rates, but missed our estimate by 5% due to lower than expected mortgage advancements.
- EPS was flat YoY, driven by higher loan loss provisions, missing our estimate by 4%. Annual regular dividends remained unchanged at $0.80/share, reflecting a yield of 8.9%.
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $9 |
| Fair Value | CAD $10.09 |
| Risk | 3 |
| Week Range | CAD $8.01-9.0 |
| Shares O/S (M) | 3.16 |
| Market Cap. (M) | CAD $28 |
| Current Yield (%) | 8.9 |
| P/E (forward) | 11.3 |
| P/B | 0.97 |
