Federal Agricultural Mortgage (NYSE:AGM) Posts Earnings Results, Beats Estimates By $0.02 EPS

Federal Agricultural Mortgage (NYSE:AGM) issued its quarterly earnings results on Monday. The credit services provider reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.94 by $0.02, Yahoo Finance reports. The firm had revenue of $403.63 million during the quarter, compared to analyst estimates of $92.22 million. Federal Agricultural Mortgage had a return on equity of 22.68% and a net margin of 14.13%. During the same quarter in the previous year, the company posted $3.56 earnings per share.

Federal Agricultural Mortgage Trading Up 1.5 %

Shares of AGM traded up $2.65 during mid-day trading on Wednesday, hitting $175.90. 23,300 shares of the company’s stock traded hands, compared to its average volume of 62,699. The business’s 50-day moving average price is $187.36 and its 200-day moving average price is $179.56. Federal Agricultural Mortgage has a 1 year low of $122.96 and a 1 year high of $199.40. The firm has a market capitalization of $1.91 billion, a P/E ratio of 11.07 and a beta of 1.08. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.51.

Federal Agricultural Mortgage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.40 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.60 annualized dividend and a yield of 3.18%. This is a boost from Federal Agricultural Mortgage’s previous quarterly dividend of $1.10. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is 35.42%.

Analysts Set New Price Targets

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

Federal Agricultural Mortgage Company Profile

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.