Annaly Capital Management (NLY) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw Annaly Capital Management (NLY) ending at $17.72, denoting a -0.67% adjustment from its last day's close. This change lagged the S&P 500's 1.18% gain on the day. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
The the stock of real estate investment trust has fallen by 9.67% in the past month, lagging the Finance sector's loss of 4.4% and the S&P 500's loss of 5.17%.
The investment community will be closely monitoring the performance of Annaly Capital Management in its forthcoming earnings report. The company is scheduled to release its earnings on October 25, 2023. The company is expected to report EPS of $0.72, down 32.08% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $330 million, up 18.71% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.94 per share and a revenue of $641 million, demonstrating changes of -30.33% and -56.37%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Annaly Capital Management. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Annaly Capital Management is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, Annaly Capital Management is currently trading at a Forward P/E ratio of 6.07. This valuation marks a discount compared to its industry's average Forward P/E of 6.48.
The REIT and Equity Trust industry is part of the Finance sector. With its current Zacks Industry Rank of 156, this industry ranks in the bottom 39% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Annaly Capital Management Inc (NLY) : Free Stock Analysis Report
