Two Harbors Investment Corp. (NYSE:TWO) Expected to Post Quarterly Sales of $30.86 Million

Brokerages expect Two Harbors Investment Corp. (NYSE:TWO) to announce sales of $30.86 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Two Harbors Investment’s earnings, with the lowest sales estimate coming in at $23.70 million and the highest estimate coming in at $38.02 million. Two Harbors Investment posted sales of $45.21 million in the same quarter last year, which would indicate a negative year over year growth rate of 31.7%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, August 4th.

According to Zacks, analysts expect that Two Harbors Investment will report full-year sales of $125.24 million for the current fiscal year, with estimates ranging from $107.30 million to $143.17 million. For the next financial year, analysts forecast that the business will report sales of $120.96 million, with estimates ranging from $100.50 million to $141.43 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Two Harbors Investment.

Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings results on Wednesday, May 5th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.04). Two Harbors Investment had a net margin of 147.30% and a return on equity of 13.10%.

Several research analysts have commented on the company. TheStreet raised Two Harbors Investment from a “d” rating to a “c” rating in a research note on Wednesday, May 26th. BTIG Research reissued a “hold” rating on shares of Two Harbors Investment in a research note on Friday, May 7th. Credit Suisse Group downgraded Two Harbors Investment from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $7.75 to $7.50 in a research note on Tuesday, June 29th. Finally, Zacks Investment Research downgraded Two Harbors Investment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $6.88.

In related news, Director Thomas Siering sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, May 13th. The stock was sold at an average price of $6.98, for a total value of $1,396,000.00. Following the sale, the director now directly owns 549,706 shares in the company, valued at $3,836,947.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.84% of the company’s stock.

A number of hedge funds have recently made changes to their positions in TWO. FMR LLC boosted its holdings in Two Harbors Investment by 41.7% in the first quarter. FMR LLC now owns 522,941 shares of the real estate investment trust’s stock valued at $7,076,000 after acquiring an additional 153,900 shares during the last quarter. Rhumbline Advisers lifted its stake in Two Harbors Investment by 12.5% in the fourth quarter. Rhumbline Advisers now owns 479,249 shares of the real estate investment trust’s stock valued at $3,053,000 after buying an additional 53,402 shares during the period. Teacher Retirement System of Texas lifted its stake in Two Harbors Investment by 60.0% in the fourth quarter. Teacher Retirement System of Texas now owns 25,136 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 9,427 shares during the period. Citigroup Inc. lifted its stake in Two Harbors Investment by 61.4% in the fourth quarter. Citigroup Inc. now owns 76,120 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 28,968 shares during the period. Finally, Baird Financial Group Inc. acquired a new position in Two Harbors Investment in the fourth quarter valued at approximately $86,000. Institutional investors and hedge funds own 59.05% of the company’s stock.

TWO stock opened at $6.41 on Thursday. The firm has a market capitalization of $1.75 billion, a P/E ratio of 4.71 and a beta of 1.83. The company has a 50-day moving average of $7.30. Two Harbors Investment has a 52 week low of $4.75 and a 52 week high of $8.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.12 and a current ratio of 1.12.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 29th. Stockholders of record on Tuesday, June 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 10.61%. The ex-dividend date of this dividend is Monday, June 28th. Two Harbors Investment’s dividend payout ratio (DPR) is currently 87.18%.

About Two Harbors Investment

Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.

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Earnings History and Estimates for Two Harbors Investment (NYSE:TWO)

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