Annaly Slips as Indexes Rise Ahead of October Earnings
The REIT fell as major indexes rose, while investors look toward an October earnings report with higher earnings and revenue forecasts.
Annaly Capital Management closed at $18.70, down 1.01% from the prior session. The decline contrasted with a 0.2% gain for the S&P 500. The Dow and Nasdaq each rose 0.04%.
The shares have fallen 16.82% over the past month, compared with a 4.84% decline for the Finance sector and a 0.35% drop for the S&P 500.
Annaly is scheduled to report earnings on October 20. Analysts expect earnings of $0.78 per share, up 6.85% from a year earlier. The latest consensus estimate projects revenue of $545 million, a 97.64% increase.
For the full fiscal year, Zacks consensus estimates call for earnings of $3.09 per share and revenue of $2.03 billion. Those forecasts represent increases of 5.82% and 78.78%, respectively, from the prior year.
Zacks said its consensus earnings estimate had not changed in the past 30 days. It put Annaly’s forward price-to-earnings ratio at 6.12, below the industry average of 7.3.
This article was produced with the help of AI technology.
Source: Yahoo Finance
