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Jernigan Capital beats Street 4Q forecasts

MEMPHIS, Tenn. (AP) _ Jernigan Capital Inc. (JCAP) on Wednesday reported fourth-quarter net income of $4.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Memphis, Tennessee-based company said it had net income of 53 cents.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The commercial real estate finance company posted revenue of $2.2 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $1.9 million.

For the year, the company reported profit of $16 million, or $2.42 per share. Revenue was reported as $6.5 million.

For the current quarter ending in April, Jernigan Capital expects its per-share earnings to range from 9 cents to 17 cents.

The company expects full-year earnings in the range of $1.80 to $2.30 per share.

Jernigan Capital shares have increased nearly 4 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.88, a climb of 49 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JCAP at https://www.zacks.com/ap/JCAP


Keywords: Jernigan Capital, Earnings Report