Annaly Capital Management (NLY) Laps the Stock Market: Here's Why
Annaly Capital Management (NLY) closed the latest trading day at $19.64, indicating a +0.98% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.53%. Elsewhere, the Dow saw an upswing of 0.64%, while the tech-heavy Nasdaq appreciated by 0.19%.
Shares of the real estate investment trust have depreciated by 5.26% over the course of the past month, underperforming the Finance sector's loss of 2.41% and the S&P 500's gain of 2.48%.
Investors will be eagerly watching for the performance of Annaly Capital Management in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 7, 2024. The company's earnings per share (EPS) are projected to be $0.64, reflecting a 28.09% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $296 million, up 119.11% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Annaly Capital Management. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.23% lower. Annaly Capital Management is currently a Zacks Rank #4 (Sell).
In terms of valuation, Annaly Capital Management is presently being traded at a Forward P/E ratio of 7.38. This valuation marks a discount compared to its industry's average Forward P/E of 7.9.
The REIT and Equity Trust industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Annaly Capital Management Inc (NLY) : Free Stock Analysis Report
