New Century Raises Its Earnings Estimate
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Reuters
New Century Financial Corp. on Monday raised earnings estimates for the year, citing falling interest rates, increased loan production and strong demand for the specialty finance company’s loans on the secondary market.
The Irvine company lender said it expects to earn between $1.30 and $1.45 a share for the year, up from previous estimates of $1.15 to $1.30 a share set in April. The company lost $1.66 a share last year.
New Century’s stock closed at $10.06, off 1 cent a share, on the Nasdaq.
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