Compass Point Remains Positive on Two Harbors Investment Corp. Despite Core EPS Misses

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In a report published Thursday, Compass Point analyst Jason Stewart reiterated a Buy rating and $11.50 price target on
Two Harbors Investment Corp.TWO
. In the report, Compass Point noted, “After market close yesterday, TWO reported core 2Q14 EPS of $0.24, slightly below the consensus estimate of $0.25 and our core EPS estimate of $0.26. However, TWO reduced risk in the quarter and continues to differentiate themselves from peers as an operating entity. Over time, we believe this will be accretive to ROE and continue to reduce book value per share (BVPS) volatility. BVPS increased 3.5% QoQ to $11.09 from $10.71 (versus our 2Q14 BVPS estimate of $10.84). TWO share currently trade at 92% of 2Q14 BVPS.” Two Harbors Investment Corp. closed on Wednesday at $10.29.
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Posted In: Analyst ColorReiterationAnalyst RatingsCompass PointJason Stewart
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