American Capital Mortgage Investment Crp Receives Buy Rating from Wunderlich (MTGE)
American Capital Mortgage Investment Crp (NASDAQ:MTGE)‘s stock had its “buy” rating reiterated by investment analysts at Wunderlich in a note issued to investors on Friday. They currently have a $22.50 target price on the stock, up from their previous target price of $21.50. Wunderlich’s price target indicates a potential upside of 12.36% from the company’s current price.
The analysts wrote, “American Capital Mortgage (MTGE) reported $0.72 of dollar roll plus net spread income, in-line with our estimate. While we are lowering our 2014 earnings estimate, we think that MTGE’s allocation of equity to agency MBS, non-agency MBS and mortgage servicing will prove capable of driving YoY earnings gains even as the FOMC engages in liftoff. Two concepts give us this confidence: MTGE has a liquid portfolio that can take advantage of mispriced assets opportunistically, and negative net supply of MBS will provide price support for its assets. BVPS increased to $22.73 and we think it will have good support in coming quarters. We are raising our target by $1 to $22.50, which is a discount to forward, market-neutral BVPS.”
Separately, analysts at JMP Securities downgraded shares of American Capital Mortgage Investment Crp from a “market outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. They now have a $26.50 price target on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $22.87.
Shares of American Capital Mortgage Investment Crp (NASDAQ:MTGE) opened at 20.02 on Friday. American Capital Mortgage Investment Crp has a 52 week low of $17.27 and a 52 week high of $21.30. The stock’s 50-day moving average is $19.95 and its 200-day moving average is $19.74. The company has a market cap of $1.024 billion and a P/E ratio of 8.07.
American Capital Mortgage Investment Crp (NASDAQ:MTGE) last released its earnings data on Wednesday, July 30th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $1.02. The company had revenue of $39.80 million for the quarter, compared to the consensus estimate of $45.36 million. During the same quarter in the previous year, the company posted ($0.94) earnings per share. The company’s revenue for the quarter was down 27.4% on a year-over-year basis. Analysts expect that American Capital Mortgage Investment Crp will post $2.61 EPS for the current fiscal year.
American Capital Mortgage Investment Corp. is a real estate investment trust (NASDAQ:MTGE).
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