Orchid Island Capital (NYSE:ORC) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Orchid Island Capital reported quarterly EPS of $0.27, missing the $0.29 consensus estimate by $0.02.
• ORC shares rose 0.5% to $4.89, while the stock remains near its 12-month low of $4.75 and well below its 12-month high of $8.40.
• The company declared a monthly dividend of $0.10 per share, equivalent to $1.20 annually and a 24.5% yield; analysts’ consensus rating is “Reduce,” with a $7.50 average price target.

Orchid Island Capital (NYSE:ORC - Get Free Report) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02), Zacks reports.

Orchid Island Capital Stock Up 0.5%

Shares of ORC stock traded up $0.03 on Thursday, reaching $4.89. The stock had a trading volume of 5,064,484 shares, compared to its average volume of 5,933,034. Orchid Island Capital has a 12 month low of $4.75 and a 12 month high of $8.40. The firm has a market capitalization of $977.04 million, a price-to-earnings ratio of 3.31 and a beta of 1.60. The firm's 50-day moving average is $5.96 and its two-hundred day moving average is $6.51.

Orchid Island Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, October 30th will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 24.5%. The ex-dividend date of this dividend is Friday, October 30th. Orchid Island Capital's dividend payout ratio is presently 81.08%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ORC shares. BTIG Research started coverage on Orchid Island Capital in a research report on Thursday, July 9th. They set a "neutral" rating for the company. Weiss Ratings lowered Orchid Island Capital from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $7.50.

About Orchid Island Capital

Orchid Island Capital, Inc is a real estate investment trust (REIT) that invests primarily in residential mortgage-backed securities (RMBS). Its portfolio is focused mainly on agency securities, which are backed by residential mortgage loans and guaranteed by government-sponsored entities such as Fannie Mae and Freddie Mac or by Ginnie Mae.

The company seeks to generate income from its mortgage investments, primarily through the difference between the returns on its assets and the cost of financing those assets.

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