American Capital Agency Corp. (AGNC) Downgraded by 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 to investors 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.”
Several other brokerages have also recently weighed in on AGNC. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.50 price target on shares of American Capital Agency Corp. in a research report on Tuesday, May 30th. BidaskClub raised shares of American Capital Agency Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Deutsche Bank AG raised their price target on shares of American Capital Agency Corp. from $18.50 to $19.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Wells Fargo & Company cut shares of American Capital Agency Corp. from an “outperform” rating to a “market perform” rating and set a $20.50 price target on the stock. in a research report on Tuesday, April 11th. They noted that the move was a valuation call. Finally, Maxim Group reaffirmed a “buy” rating and issued a $21.25 price target on shares of American Capital Agency Corp. in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, seven 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 price target of $20.14.
American Capital Agency Corp. (NASDAQ AGNC) traded down 0.61% during mid-day trading on Friday, hitting $21.02. The company had a trading volume of 1,454,140 shares. The firm has a market cap of $7.47 billion, a P/E ratio of 4.39 and a beta of 0.20. American Capital Agency Corp. has a 12-month low of $17.30 and a 12-month high of $22.34.
American Capital Agency Corp. (NASDAQ:AGNC) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.07. The company had revenue of $181 million for the quarter, compared to analysts’ expectations of $203.44 million. American Capital Agency Corp. had a net margin of 161.49% and a return on equity of 12.17%. The business’s revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. On average, analysts expect that American Capital Agency Corp. will post $2.48 earnings per share for the current fiscal year.
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In other American Capital Agency Corp. news, Director Morris A. Davis sold 3,741 shares of American Capital Agency Corp. stock in a transaction that occurred on Tuesday, June 6th. The shares were 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 link. 0.47% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Sigma Planning Corp raised its stake in shares of American Capital Agency Corp. by 5.9% in the first quarter. Sigma Planning Corp now owns 11,321 shares of the real estate investment trust’s stock valued at $225,000 after buying an additional 633 shares during the last quarter. Mn Services Vermogensbeheer B.V. bought a new stake in shares of American Capital Agency Corp. during the first quarter valued at about $161,000. Candriam Luxembourg S.C.A. raised its stake in shares of American Capital Agency Corp. by 33.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 52,378 shares of the real estate investment trust’s stock valued at $1,042,000 after buying an additional 13,271 shares during the last quarter. James Investment Research Inc. bought a new stake in shares of American Capital Agency Corp. during the first quarter valued at about $148,000. Finally, Washington Trust Bank bought a new stake in shares of American Capital Agency Corp. during the first quarter valued at about $121,000. 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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