Annaly Capital Management (NLY) Stock Moves -0.61%: What You Should Know
The most recent trading session ended with Annaly Capital Management (NLY) standing at $16.24, reflecting a -0.61% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 1.26%. At the same time, the Dow lost 0.86%, and the tech-heavy Nasdaq lost 1.54%.
The the stock of real estate investment trust has fallen by 17.22% in the past month, lagging the Finance sector's loss of 5.97% and the S&P 500's loss of 3.67%.
The investment community will be paying close attention to the earnings performance of Annaly Capital Management in its upcoming release. The company is slated to reveal its earnings on October 25, 2023. The company's earnings per share (EPS) are projected to be $0.72, reflecting a 32.08% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $330 million, up 18.71% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.94 per share and a revenue of $641 million, indicating changes of -30.33% and -56.37%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Annaly Capital Management. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Annaly Capital Management currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Annaly Capital Management is holding a Forward P/E ratio of 5.56. This represents a discount compared to its industry's average Forward P/E of 6.23.
The REIT and Equity Trust industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 35% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Annaly Capital Management Inc (NLY) : Free Stock Analysis Report
