Brokerages Expect AGNC Investment Corp. (AGNC) Will Announce Earnings of $0.61 Per Share

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Wall Street analysts forecast that AGNC Investment Corp. (NASDAQ:AGNC) will announce earnings of $0.61 per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for AGNC Investment’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.62. AGNC Investment reported earnings of $0.59 per share in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The business is expected to issue its next earnings results after the market closes on Wednesday, October 24th.

According to Zacks, analysts expect that AGNC Investment will report full-year earnings of $2.44 per share for the current year, with EPS estimates ranging from $2.39 to $2.49. For the next financial year, analysts anticipate that the firm will post earnings of $2.38 per share, with EPS estimates ranging from $2.05 to $2.74. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow AGNC Investment.

AGNC Investment (NASDAQ:AGNC) last released its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. AGNC Investment had a net margin of 134.01% and a return on equity of 11.69%. The company had revenue of $177.00 million for the quarter, compared to analysts’ expectations of $274.15 million. During the same quarter last year, the business earned $0.60 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year.

A number of equities research analysts have commented on the stock. BidaskClub upgraded shares of AGNC Investment from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded shares of AGNC Investment from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Monday, September 24th. Barclays restated a “hold” rating and set a $19.00 target price on shares of AGNC Investment in a research note on Wednesday, September 12th. Maxim Group raised their target price on shares of AGNC Investment from $19.25 to $19.75 and gave the stock a “buy” rating in a research note on Friday, July 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of AGNC Investment from $18.00 to $18.50 and gave the stock a “$19.11” rating in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $19.46.

NASDAQ AGNC traded down $0.04 on Monday, reaching $17.76. 6,849,657 shares of the stock were exchanged, compared to its average volume of 4,710,646. AGNC Investment has a one year low of $17.71 and a one year high of $21.90. The stock has a market cap of $8.90 billion and a price-to-earnings ratio of 7.22. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.04.

The business also recently disclosed a oct 18 dividend, which will be paid on Friday, November 9th. Stockholders of record on Wednesday, October 31st will be given a dividend of $0.18 per share. This represents a dividend yield of 12.16%. The ex-dividend date is Tuesday, October 30th. AGNC Investment’s payout ratio is currently 87.80%.

In other news, Director Morris A. Davis sold 6,797 shares of AGNC Investment stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $19.12, for a total transaction of $129,958.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in AGNC Investment by 6.3% in the second quarter. CIBC Asset Management Inc now owns 46,967 shares of the real estate investment trust’s stock worth $873,000 after purchasing an additional 2,776 shares during the last quarter. First Allied Advisory Services Inc. increased its position in AGNC Investment by 9.8% in the second quarter. First Allied Advisory Services Inc. now owns 33,520 shares of the real estate investment trust’s stock worth $623,000 after purchasing an additional 3,004 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in AGNC Investment by 10.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 32,931 shares of the real estate investment trust’s stock worth $612,000 after purchasing an additional 3,205 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in AGNC Investment by 2.0% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 163,949 shares of the real estate investment trust’s stock worth $3,048,000 after purchasing an additional 3,279 shares during the last quarter. Finally, Wesbanco Bank Inc. boosted its stake in AGNC Investment by 23.0% during the first quarter. Wesbanco Bank Inc. now owns 18,685 shares of the real estate investment trust’s stock worth $354,000 after buying an additional 3,500 shares during the period. Hedge funds and other institutional investors own 57.71% of the company’s stock.

About AGNC Investment

AGNC Investment Corp., formerly American Capital Agency Corp., is a real estate investment trust. The Company invests in agency residential mortgage-backed securities on a leveraged basis. Its investments consist of residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively, GSEs).

See Also: Earnings Reports

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