Federal Agricultural Mortgage Corporation (NYSE:AGM) is expected to report third quarter earnings results, after market close, on Monday 9th November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 2.25 per share.
Looking ahead, the full year income are expected at $ 8.95 per share on the revenues of $ 204.08 million.
Previous Quarter Performance
Federal Agricultural Mortgage Corporation communicated income for the second quarter of $ 2.45 per share, from the revenue of $ 52.46 million. The quarterly earnings boosted 11.36 percent while revenues boosted 10.65 percent compared with the same quarter last year.
The consensus estimates are income of $ 2.29 per share from $ 49.17 million in revenue. The bottom line results beat street analysts by $ 0.16 or 6.99 percent, at the same time, top line results outshined analysts by $ 3.29 million or 6.69 percent.
Stock Performance
On Friday, shares of Federal Agricultural Mortgage Corporation has traded high as $ 65.93 and has cracked $ 64.52 on the downward trend, reaching $ 64.55 with volume of 37.10 thousand shares.
According to the previous trading day, closing price of $ 64.55, representing a 63.27 % increase from the 52 week low of $ 40.05 and a 24.84 % decrease over the 52 week high of $ 87.00.
The company has a market capital of $ 680.28 million and is part of the Financial Services sector and Credit Services industry.
Conference Call
Federal Agricultural Mortgage Corporation will be hosting a conference call at 5:00 PM eastern time on 9th November 2020, to discuss its 3Q20 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.
