Q2 2024 EPS Estimates for Federal Agricultural Mortgage Co. Reduced by Seaport Res Ptn (NYSE:AGM)

Federal Agricultural Mortgage Co. (NYSE:AGM) – Equities research analysts at Seaport Res Ptn decreased their Q2 2024 earnings per share estimates for Federal Agricultural Mortgage in a note issued to investors on Tuesday, May 7th. Seaport Res Ptn analyst W. Ryan now expects that the credit services provider will post earnings per share of $4.07 for the quarter, down from their previous estimate of $4.19. The consensus estimate for Federal Agricultural Mortgage’s current full-year earnings is $17.00 per share. Seaport Res Ptn also issued estimates for Federal Agricultural Mortgage’s Q3 2024 earnings at $4.26 EPS, Q4 2024 earnings at $4.37 EPS and FY2025 earnings at $18.40 EPS.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings results on Monday, May 6th. The credit services provider reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.94 by $0.02. Federal Agricultural Mortgage had a return on equity of 22.68% and a net margin of 14.13%. The firm had revenue of $403.63 million during the quarter, compared to analyst estimates of $92.22 million. During the same quarter in the previous year, the company posted $3.56 earnings per share.

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $212.00 price target (down previously from $225.00) on shares of Federal Agricultural Mortgage in a research note on Wednesday.

Federal Agricultural Mortgage Price Performance

AGM stock opened at $178.31 on Wednesday. The firm’s 50-day moving average price is $187.42 and its two-hundred day moving average price is $179.55. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 10.87 and a beta of 1.08. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.51. Federal Agricultural Mortgage has a 12-month low of $122.96 and a 12-month high of $199.40.

Federal Agricultural Mortgage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.40 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.60 annualized dividend and a dividend yield of 3.14%. This is a boost from Federal Agricultural Mortgage’s previous quarterly dividend of $1.10. Federal Agricultural Mortgage’s payout ratio is currently 34.15%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGM. International Assets Investment Management LLC purchased a new position in Federal Agricultural Mortgage in the fourth quarter worth about $18,283,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Federal Agricultural Mortgage by 943.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 28,355 shares of the credit services provider’s stock worth $5,422,000 after purchasing an additional 25,638 shares during the last quarter. Ballast Asset Management LP purchased a new stake in shares of Federal Agricultural Mortgage in the third quarter worth about $3,575,000. AdvisorShares Investments LLC bought a new position in shares of Federal Agricultural Mortgage during the 4th quarter valued at approximately $3,414,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in shares of Federal Agricultural Mortgage by 4,095.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 15,271 shares of the credit services provider’s stock worth $2,356,000 after buying an additional 14,907 shares in the last quarter. Institutional investors own 68.03% of the company’s stock.

Federal Agricultural Mortgage Company Profile

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company's Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.