Loading...
Loading...
According to a research report this morning, Ladenburg Thalmann lowers its PT on Crexus Investment
CXS from $13 to $12 after missing its estimate of $0.34 and consensus of $0.32.
Ladenburg Thalmann stated, “The two primary reasons for the earnings miss were a smaller than expected investment portfolio and a lower than expected discount accretion. Recall that the company acquired a portfolio from Barclays (BCS/NR/$15.57) at a discount last July. A portion of the discount accretes into earnings as the portfolio matures and is turned over.”
Crexus Investment closed Friday at $10.15 as Ladenburg Thalmann maintains its Buy rating.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in