Equities Analysts Set Expectations for Federal Agricultural Mortgage Co.’s FY2024 Earnings (NYSE:AGM)

Federal Agricultural Mortgage Co. (NYSE:AGM) – Seaport Res Ptn reduced their FY2024 earnings per share estimates for Federal Agricultural Mortgage in a research note issued on Tuesday, May 7th. Seaport Res Ptn analyst W. Ryan now expects that the credit services provider will post earnings of $16.65 per share for the year, down from their prior estimate of $17.00. The consensus estimate for Federal Agricultural Mortgage’s current full-year earnings is $17.00 per share.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings results on Monday, May 6th. The credit services provider reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.94 by $0.02. Federal Agricultural Mortgage had a return on equity of 22.68% and a net margin of 14.13%. The business had revenue of $403.63 million for the quarter, compared to the consensus estimate of $92.22 million. During the same quarter in the previous year, the company posted $3.56 earnings per share.

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

Federal Agricultural Mortgage Stock Performance

Shares of AGM stock opened at $179.01 on Thursday. Federal Agricultural Mortgage has a 1-year low of $122.96 and a 1-year 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. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 10.92 and a beta of 1.08. The stock’s fifty day simple moving average is $187.43 and its 200-day simple moving average is $179.56.

Federal Agricultural Mortgage Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Fortis Capital Advisors LLC grew its stake in Federal Agricultural Mortgage by 42.1% in the first quarter. Fortis Capital Advisors LLC now owns 15,683 shares of the credit services provider’s stock valued at $3,088,000 after purchasing an additional 4,643 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Federal Agricultural Mortgage during the 1st quarter worth about $367,000. ProShare Advisors LLC boosted its stake in shares of Federal Agricultural Mortgage by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 1,640 shares of the credit services provider’s stock worth $323,000 after acquiring an additional 129 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its stake in shares of Federal Agricultural Mortgage by 6.2% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 10,300 shares of the credit services provider’s stock worth $2,028,000 after acquiring an additional 600 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Federal Agricultural Mortgage during the 1st quarter worth about $258,000. Hedge funds and other 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.