The price will drop on Monday and stay at 22-24 until the conference call at the end of the month. My guess is that they will announce that there is a current msimatch between loans already in the system and the prices they can get which accounts for the severe drop in the quarter. The big question will be what their margins and volume are going forward.
For the first quarter, the mortgage real estate investment trust said it expects earnings of 40 cents to 60 cents a share. For 2007, it sees earnings of $3.75 to $4.25 a share.
American Home Mortgage also said it is lowering its dividend to 70 cents a share per quarter, or $2.80 per share on an annualized basis, from $4.48 per share.
still not bad, I think the worst is behind them, this has already played out with it priced in.
with book value at 22.00 there is no way the stock should go below that.
drop to 22.00 not that bad for long term holders of considerable shares. day traders will always get reamed. This just a short term trend Once bush's monkey ass is out of office the dems can start to work bringing highpaying jobs back to america.