American Capital Agency Corp. (AGNC) Rating Lowered to Hold at Zacks Investment Research
American Capital Agency Corp. (NASDAQ:AGNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “AGNC Investment reported second-quarter 2017 net spread and dollar roll income of $0.67 per share (excluding estimated "catch-up" premium amortization cost), comfortably beating the Zacks Consensus Estimate of $0.59. The prior-quarter figure was $0.64 per share. Moreover, second-quarter comprehensive income per common share came at $0.40, ahead of $0.35 recorded in the prior quarter. Also, year to date, AGNC Investment’s shares outperformed the industry it belongs to. The company’s efficient cost structure and portfolio repositioning efforts for hedging interest rate uncertainty augur well. Further, the acquisition of its external manager in last July has substantially lowered its operating costs. However, the widespread volatility in the market amid concerns over global economies and rate hike issues remain risks.”
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG increased their price target on American Capital Agency Corp. from $18.50 to $19.00 and gave the company a “buy” rating in a research note on Friday, April 28th. BidaskClub cut American Capital Agency Corp. from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Maxim Group restated a “buy” rating and issued a $21.25 price target on shares of American Capital Agency Corp. in a research note on Thursday, July 27th. Credit Suisse Group restated a “hold” rating and issued a $20.00 price target on shares of American Capital Agency Corp. in a research note on Friday, July 28th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $19.00 price target on shares of American Capital Agency Corp. in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $20.14.
American Capital Agency Corp. (AGNC) traded down 0.76% during trading on Friday, hitting $20.99. 2,344,850 shares of the stock were exchanged. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 4.39 and a beta of 0.20. American Capital Agency Corp. has a 1-year low of $17.30 and a 1-year high of $22.34.
American Capital Agency Corp. (NASDAQ:AGNC) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. American Capital Agency Corp. had a return on equity of 12.17% and a net margin of 161.49%. The business had revenue of $181 million for the quarter, compared to analysts’ expectations of $203.44 million. During the same quarter in the prior year, the business earned $0.73 EPS. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. On average, analysts forecast that American Capital Agency Corp. will post $2.48 EPS for the current year.
In other American Capital Agency Corp. news, Director Morris A. Davis sold 3,741 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $20.80, for a total transaction of $77,812.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.47% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in shares of American Capital Agency Corp. by 24.3% in the first quarter. Tower Research Capital LLC TRC now owns 5,584 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 1,090 shares during the last quarter. Washington Trust Bank bought a new position in shares of American Capital Agency Corp. during the first quarter worth approximately $121,000. James Investment Research Inc. bought a new position in shares of American Capital Agency Corp. during the first quarter worth approximately $148,000. Penserra Capital Management LLC boosted its position in shares of American Capital Agency Corp. by 42.0% in the first quarter. Penserra Capital Management LLC now owns 7,649 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 2,261 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. bought a new position in shares of American Capital Agency Corp. during the first quarter worth approximately $161,000. Hedge funds and other institutional investors own 56.16% of the company’s stock.
American Capital Agency Corp. Company Profile
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).
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