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AMREP's earnings rose, but revenue dropped, leading to a stock downgrade and price fall.
AMREP, a real estate and homebuilding company, reported earnings of $0.13 per share for the quarter, showing a significant increase from the previous year.
The company's stock price fell $0.17 to $23.05, with a trading volume of 8,824 shares.
StockNews.com downgraded AMREP's rating from "buy" to "hold."
The company's revenue for the quarter was $7,520,000, down from $12,689,000 last year.
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Las ganancias de AMREP aumentaron, pero los ingresos cayeron, lo que llevó a una bajada de la categoría de las acciones y a una caída de los precios.