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New York Mortgage Trust (NYMT) Beats Q3 Earnings Estimates
NYMTNew York Mortgage Trust(NYMT) ZACKS·2024-10-30 23:25

Core Viewpoint - New York Mortgage Trust (NYMT) reported quarterly earnings of 0.39pershare,significantlyexceedingtheZacksConsensusEstimateof0.39 per share, significantly exceeding the Zacks Consensus Estimate of 0.06 per share, marking an earnings surprise of 550% compared to a loss of 0.25pershareinthepreviousquarter[1][2].FinancialPerformance−Thecompanypostedrevenuesof0.25 per share in the previous quarter [1][2]. Financial Performance - The company posted revenues of 20.24 million for the quarter ended September 2024, which was 8.43% below the Zacks Consensus Estimate, and an increase from 16.79millionyear−over−year[2].−Overthelastfourquarters,NYMThassurpassedconsensusEPSestimatesonlyonce[2].StockPerformance−NYMTshareshavedeclinedapproximately36.216.79 million year-over-year [2]. - Over the last four quarters, NYMT has surpassed consensus EPS estimates only once [2]. Stock Performance - NYMT shares have declined approximately 36.2% since the beginning of the year, contrasting with the S&P 500's gain of 22.3% [3]. - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6]. Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 0.08 on revenues of 23.48million,whileforthecurrentfiscalyear,theestimateis−23.48 million, while for the current fiscal year, the estimate is -0.78 on revenues of $82.51 million [7]. - The trend of estimate revisions for NYMT is mixed, which may change following the recent earnings report [6]. Industry Context - The REIT and Equity Trust industry, to which NYMT belongs, is currently ranked in the top 38% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8].