Federal Agricultural Mortgage Corporation (NYSE:AGM) is set to announce second quarter earning results on Monday 10th August 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, AGM to report 2Q20 income of $ 2.29 per share.
For the full year, analysts anticipate top line of $ 198.21 million, while looking forward to income of $ 8.74 per share bottom line.
Previous Quarter Performance
Federal Agricultural Mortgage Corporation posted income for the first quarter of $ 1.87 per share, from the revenue of $ 49.73 million. The quarterly earnings down 9.22 percent while revenues swell 11.18 percent compared with the same quarter last year.
The consensus estimates are income of $ 2.24 per share from $ 49.42 million in revenue. The bottom line results missed street analysts by $ 0.37 or 16.52 percent, at the same time, top line results outshined analysts by $ 0.31 million or 0.63 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of AGM was $ 63.45, representing a 58.43 % increase from the 52 week low of $ 40.05 and a 28.27 % decrease over the 52 week high of $ 88.46.
The company has a market capital of $ 672.46 million and is part of the Financial Services sector and Credit Services industry.
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Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.80 per share on May 29, 2020. The dividend were payable on June 30, 2020 to holders of record as of the close of business on June 15, 2020 and ex-dividend date on June 12, 2020.
Conference Call
Federal Agricultural Mortgage Corporation will be hosting a conference call at 5:00 PM eastern time on 10th August 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.farmermac.com
Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Farm & Ranch, USDA Guarantees, Rural Utilities, and Institutional Credit. The Farm & Ranch segment purchases and retains eligible mortgage loans that are secured by first liens on agricultural real estate; securitizes eligible mortgage loans, and guarantees the timely payment of principal and interest on securities representing interests in or obligations secured by pools of mortgage loans; and issues long-term standby purchase commitments (LTSPC) on designated eligible mortgage loans.
