New York Mortgage Trust (NYMT) closed the most recent trading day at $2.16, moving -1.82% from the previous trading session. This change lagged the S&P 500's 3.06% gain on the day. Elsewhere, the Dow gained 2.39%, while the tech-heavy Nasdaq added 3.95%.
Prior to today's trading, shares of the real estate investment trust had lost 21.99% over the past month. This has lagged the Finance sector's loss of 3.09% and the S&P 500's gain of 2.36% in that time.
Wall Street will be looking for positivity from NYMT as it approaches its next earnings report date. Meanwhile, our latest consensus estimate is calling for revenue of $46.50 million, up 77.48% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.77 per share and revenue of $209.30 million, which would represent changes of +20.31% and +63.69%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NYMT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.32% higher within the past month. NYMT is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note NYMT's current valuation metrics, including its Forward P/E ratio of 2.86. For comparison, its industry has an average Forward P/E of 6.53, which means NYMT is trading at a discount to the group.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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