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What Analysts Are Saying About Home Capital’s Warning Shot

By Tony Seruga

Embattled lender includes ‘going concern’ reference in report
Management warned of ripple effects if company doesn’t recover

Beleaguered Canadian mortgage lender Home Capital Group Inc. posted its first-quarter results after the close of markets Thursday — and the “slight dip” in profit and revenue was the last thing on anyone’s mind.

The company’s shares are down as much as 20 percent after management said during a conference call Friday that asset sales aren’t likely to happen any time soon and more collateral needs to be pledged than expected. In the quarterly report, the company also confirmed what was widely speculated, they share concerns about Home Capital’s ability to continue as a going concern…

What Analysts Are Saying About Home Capital’s Warning Shot

Categories : Finance

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