Federal Agricultural Mortgage (NYSE:AGM) Posts Earnings Results, Beats Estimates By $0.02 EPS

Posted by Lisa Pomrenke on May 8th, 2024

Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) released its quarterly earnings results on Monday. The credit services provider reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.94 by $0.02, Yahoo Finance reports. The firm had revenue of $403.63 million for the quarter, compared to analysts’ expectations of $92.22 million. Federal Agricultural Mortgage had a net margin of 14.13% and a return on equity of 22.68%. During the same quarter last year, the company earned $3.56 EPS.

Federal Agricultural Mortgage Stock Down 6.4 %

AGM stock opened at $173.42 on Wednesday. The stock has a market capitalization of $1.88 billion, a P/E ratio of 10.97 and a beta of 1.08. Federal Agricultural Mortgage has a 52 week low of $122.96 and a 52 week high of $199.40. The firm has a 50-day simple moving average of $187.36 and a 200-day simple moving average of $179.56. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.51.

Federal Agricultural Mortgage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $1.40 dividend. This is a positive change from Federal Agricultural Mortgage’s previous quarterly dividend of $1.10. The ex-dividend date was Thursday, March 14th. This represents a $5.60 annualized dividend and a dividend yield of 3.23%. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is 35.42%.

About Federal Agricultural Mortgage

(Get Free Report)

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company's Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.