Market Overview

UPDATE: Credit Suisse Lowers PT on American Capital Agency Following Weaker Core EPS

Related AGNC
Oppenheimer Likes This Mortgage LP - A 'Tax Advantaged' Yield Over 12%
American Capital Agency Looking For Catalyst, Analyst Says
American Capital Agency's 1.6% Book Value Loss In April Was Only Half As Bad (Seeking Alpha)

In a report published Friday, Credit Suisse analyst Douglas Harter reiterated an Outperform rating on American Capital Agency Corp. (NASDAQ: AGNC), but slightly lowered the price target from $34.00 to $33.00.

In the report, Harter noted, “AGNC reported core EPS of $0.69 ($0.78 including $0.09/share of premium amortization benefit due to change in projected CPR) for the first quarter, $0.14 lower than our estimate. Inclusive of dollar roll income (which reflects the true economics of the portfolio), EPS were $1.09 compared to our estimate of $1.17. The miss relative to our estimates was driven by higher swap cost as the company added coverage. We are lowering our 2013 through 2015 core EPS estimates to $2.73 (from $3.20), $3.08 (from $3.60), and $3.60 (from $3.90). Importantly our core plus dollar roll income estimates are $4.57 (from $4.60), $4.00 (from $4.05) for 2013 and 2014.”

American Capital Agency Corp. closed on Thursday at $33.10.

Latest Ratings for AGNC

Apr 2015UBSDowngradesNeutralSell
Apr 2015JP MorganMaintainsOverweight
Feb 2015Deutsche BankMaintainsHold

View More Analyst Ratings for AGNC
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Price Target Analyst Ratings


Related Articles (AGNC)

Around the Web, We're Loving...