Newcastle Investment Corp. Research Coverage Started at Credit Suisse (NCT)
Analysts at Credit Suisse began coverage on shares of Newcastle Investment Corp. (NYSE:NCT) in a research report issued to clients and investors on Thursday. The firm set a $16.50 price target on the stock. Credit Suisse’s price target indicates a potential upside of 21.32% from the stock’s previous close.
Newcastle Investment Corp. (NYSE:NCT) traded down 0.63% during mid-day trading on Thursday, hitting $13.515. The stock had a trading volume of 282,914 shares. Newcastle Investment Corp. has a 52 week low of $12.99 and a 52 week high of $15.42. The stock’s 50-day moving average is $13.6 and its 200-day moving average is $14.0. The company has a market cap of $1.585 billion and a price-to-earnings ratio of 16.61.
Newcastle Investment Corp. (NYSE:NCT) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.01. 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 revenue for the quarter was down 52.4% on a year-over-year basis.
In other Newcastle Investment Corp. news, Director Stuart A. Mcfarland sold 6,173 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $13.50, for a total value of $83,335.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Newcastle Investment Corp. (NYSE:NCT) is a real estate investment and finance company.
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