Real estate firm AMREP's Q1 revenue, net income fall sharply

AMREP did not provide specific guidance for future quarters or the full year.

Key details

• Q1 EPS: $0.05
• The one available analyst rating on the shares is "hold".
• The average consensus recommendation for the construction & engineering peer group is "buy".
• Wall Street's median 12-month price target for AMREP Corp is $26.00, about 13.2% above its September 10 closing price of $22.97.
• The stock recently traded at 14 times the next 12-month earnings, versus a P/E of 14 three months ago.

US real estate developer AMREP said fiscal first-quarter revenue fell sharply year over year, while fiscal first-quarter net income declined significantly compared with the prior year.

The company said results fluctuate due to the timing and type of land and home sales.