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

Federal Agricultural Mortgage (NYSE:AGM) posted its quarterly earnings data on Monday. The credit services provider reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.94 by $0.02, Yahoo Finance reports. 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 during the quarter, compared to analysts’ expectations of $92.22 million. During the same quarter in the prior year, the business posted $3.56 earnings per share.

Federal Agricultural Mortgage Trading Up 1.5 %

AGM traded up $2.65 during trading on Wednesday, hitting $175.90. 23,300 shares of the stock traded hands, compared to its average volume of 62,699. The firm has a 50-day moving average of $187.36 and a 200 day moving average of $179.56. 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 debt-to-equity ratio of 1.51, a current ratio of 0.46 and a quick ratio of 0.46. Federal Agricultural Mortgage has a 12-month low of $122.96 and a 12-month high of $199.40.

Federal Agricultural Mortgage Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set a $212.00 price target (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.