Seaport Res Ptn Comments on Federal Agricultural Mortgage Co.'s Q2 2024 Earnings (NYSE:AGM)

Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) - Seaport Res Ptn lowered their Q2 2024 earnings estimates for Federal Agricultural Mortgage in a note issued to investors on Tuesday, May 7th. Seaport Res Ptn analyst W. Ryan now forecasts that the credit services provider will earn $4.07 per share for the quarter, down from their prior estimate of $4.19. The consensus estimate for Federal Agricultural Mortgage's current full-year earnings is $17.00 per share. Seaport Res Ptn also issued estimates for Federal Agricultural Mortgage's Q3 2024 earnings at $4.26 EPS, Q4 2024 earnings at $4.37 EPS and FY2025 earnings at $18.40 EPS.

Separately, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $212.00 target price (down from $225.00) on shares of Federal Agricultural Mortgage in a report on Wednesday.

Federal Agricultural Mortgage Trading Up 3.3 %

Shares of NYSE AGM traded up $5.76 during trading hours on Wednesday, reaching $179.01. The stock had a trading volume of 89,023 shares, compared to its average volume of 63,549. The business's fifty day moving average price is $187.36 and its two-hundred day moving average price is $179.56. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 10.92 and a beta of 1.08. Federal Agricultural Mortgage has a 52-week low of $122.96 and a 52-week high of $199.40. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.51.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last issued its earnings results on Monday, May 6th. The credit services provider reported $3.96 EPS for the quarter, topping analysts' consensus estimates of $3.94 by $0.02. Federal Agricultural Mortgage had a net margin of 14.13% and a return on equity of 22.68%. The business had revenue of $403.63 million for the quarter, compared to the consensus estimate of $92.22 million. During the same period in the prior year, the firm earned $3.56 EPS.

Federal Agricultural Mortgage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.40 per share. This is an increase from Federal Agricultural Mortgage's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.60 dividend on an annualized basis and a yield of 3.13%. Federal Agricultural Mortgage's dividend payout ratio (DPR) is 34.15%.

Hedge Funds Weigh In On Federal Agricultural Mortgage

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in shares of Federal Agricultural Mortgage during the fourth quarter valued at about $18,283,000. Allspring Global Investments Holdings LLC lifted its position in Federal Agricultural Mortgage by 943.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 28,355 shares of the credit services provider's stock valued at $5,422,000 after acquiring an additional 25,638 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Federal Agricultural Mortgage by 304.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 263 shares of the credit services provider's stock valued at $50,000 after acquiring an additional 198 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Federal Agricultural Mortgage in the third quarter worth $1,437,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Federal Agricultural Mortgage by 26.0% during the third quarter. Envestnet Asset Management Inc. now owns 58,409 shares of the credit services provider's stock worth $9,013,000 after purchasing an additional 12,053 shares in the last quarter. Institutional investors own 68.03% of the company's stock.

About Federal Agricultural Mortgage

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company's Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.