Newcastle Investment Corp. (NCT) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Newcastle Investment Corp. (NYSE:NCT) posted its quarterly earnings results on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.01, AnalystRatingsNetwork reports. The company had revenue of $29.90 million for the quarter, compared to the consensus estimate of $47.32 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s quarterly revenue was down 52.4% on a year-over-year basis.
On the ratings front, analysts at Zacks upgraded shares of Newcastle Investment Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, July 7th. They now have a $5.20 price target on the stock. One research analyst has rated the stock with a sell rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $5.11.
Newcastle Investment Corp. (NYSE:NCT) traded down 0.11% during mid-day trading on Thursday, hitting $4.475. 710,542 shares of the company’s stock traded hands. Newcastle Investment Corp. has a 1-year low of $4.2857 and a 1-year high of $5.14. The stock’s 50-day moving average is $4.71 and its 200-day moving average is $4.70. The company has a market cap of $1.573 billion and a price-to-earnings ratio of 12.21.
Newcastle Investment Corp. (NYSE:NCT) is a real estate investment and finance company.
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