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AG Mortgage (MITT)
NYSE:MITT
Holding MITT?
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.21Last Year’s EPS
$0.17Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: -0.56%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive outlook with significant achievements such as an increase in book value, strong liquidity, and expansion into the home equity space. However, challenges such as a decrease in earnings per share and a contribution loss from Arc Home were also highlighted. The positive developments seem to outweigh the negatives, suggesting a promising trajectory for the company.Company Guidance
During the AG Mortgage Investment Trust's third quarter 2024 earnings call, the executives provided guidance on several key metrics. The company reported a rise in book value from $10.37 to $10.58, alongside a quarterly dividend of $0.19, resulting in a 3.9% economic return on equity. They achieved net interest income of $15.8 million, $0.40 earnings per share, and $0.17 EAD per share, with the latter influenced by projected prepayment speed assumptions. MITT reduced its leverage to 1.5 turns, securing $120 million in liquidity post deleveraging activities. The quarter saw $750 million in agency-eligible nonowner-occupied securitizations, with an emphasis on new opportunities in the home equity space, projected to offer ROEs in the 20s. The firm remained optimistic about its positioning, citing a robust delinquency performance and strategic capital deployment plans.Improved Book Value
Book value increased from $10.37 to $10.58, marking a 2% rise this quarter. This increase contributed to an economic return on equity of 3.9%.
Strong Liquidity Position
MITT ended the quarter with a liquidity of approximately $120 million, providing a stable financial position.
Expansion into Home Equity Loans
Acquired $150 million in home equity loans, with plans to purchase an additional $200 million. This segment is expected to yield ROEs in the 20s.
Successful Securitizations
Issued two agency-eligible non-owner-occupied securitizations totaling approximately $750 million, strengthening market-leading position.
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MITT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MITT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $7.13 | $6.92 | -2.95% |
| Aug 02, 2024 | $7.41 | $6.73 | -9.18% |
| May 03, 2024 | $5.46 | $5.94 | +8.79% |
| Feb 22, 2024 | $5.48 | $5.36 | -2.19% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does AG Mortgage (MITT) report earnings?
AG Mortgage (MITT) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is AG Mortgage (MITT) earnings time?
AG Mortgage (MITT) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MITT EPS forecast?
MITT EPS forecast for the fiscal quarter 2024 (Q4) is $0.21.
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