Builders Capital Mortgage Corp.
Reports Record Revenue & EPS
Published: 4/24/2024
Author: FRC Analysts
Sector: Financial Services | Industry: Mortgage Finance
Ticker Symbols:BCF - TSX 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $8.95 |
| Fair Value | CAD $10.18 |
| Risk | 3 |
| 52 Week Range | CAD $8.07-9.20 |
| Shares O/S (M) | 3.16 |
| Market Cap. (M) | CAD $28 |
| Current Yield (%) | 8.9 |
| P/E (forward) | 11.2 |
| P/B | 0.96 |
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Report Highlights
- In 2023, BCF reported record revenue (up 24% YoY), and EPS (up 22% YoY), beating our estimates by 1%, and 5%, respectively, amid higher lending rates.
- Dividends remained unchanged at $0.80/share, implying a yield of 8.9%.
- Earlier this month, management announced a $50M bond financing. We believe this financing is indicative of the company’s robust pipeline of mortgages. Bondholders will
