Annaly Capital Management, Inc. (NYSE:NLY) Expected to Post Quarterly Sales of $410.15 Million

Brokerages forecast that Annaly Capital Management, Inc. (NYSE:NLY) will post $410.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Annaly Capital Management’s earnings, with estimates ranging from $393.00 million to $427.29 million. Annaly Capital Management posted sales of $447.32 million during the same quarter last year, which suggests a negative year over year growth rate of 8.3%. The company is expected to report its next earnings report on Wednesday, October 27th.

On average, analysts expect that Annaly Capital Management will report full-year sales of $1.80 billion for the current financial year, with estimates ranging from $1.78 billion to $1.82 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.58 billion, with estimates ranging from $1.50 billion to $1.66 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Annaly Capital Management.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Tuesday, July 27th. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. Annaly Capital Management had a return on equity of 14.28% and a net margin of 149.66%. During the same quarter in the previous year, the firm posted $0.27 earnings per share.

Several brokerages recently issued reports on NLY. JMP Securities lowered their price target on Annaly Capital Management from $10.00 to $9.25 and set a “market outperform” rating on the stock in a research note on Friday, July 30th. TheStreet lowered Annaly Capital Management from a “b-” rating to a “c” rating in a research note on Thursday, July 29th. Finally, Keefe, Bruyette & Woods downgraded Annaly Capital Management from an “outperform” rating to a “market perform” rating and set a $9.50 target price on the stock. in a report on Sunday, June 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.11.

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of Annaly Capital Management by 214.9% in the second quarter. Goldman Sachs Group Inc. now owns 9,244,798 shares of the real estate investment trust’s stock valued at $82,095,000 after buying an additional 6,308,933 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Annaly Capital Management by 1,615.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,118,883 shares of the real estate investment trust’s stock worth $36,576,000 after purchasing an additional 3,878,792 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Annaly Capital Management by 1,513.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 4,094,857 shares of the real estate investment trust’s stock worth $36,362,000 after purchasing an additional 3,841,128 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Annaly Capital Management by 855.5% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,111,476 shares of the real estate investment trust’s stock valued at $27,630,000 after buying an additional 2,785,846 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Annaly Capital Management by 33.2% during the second quarter. Legal & General Group Plc now owns 10,779,519 shares of the real estate investment trust’s stock valued at $95,722,000 after purchasing an additional 2,688,642 shares during the period. Institutional investors and hedge funds own 42.40% of the company’s stock.

Shares of NLY opened at $8.62 on Tuesday. Annaly Capital Management has a 12-month low of $6.92 and a 12-month high of $9.64. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 3.75, a P/E/G ratio of 1.55 and a beta of 1.24. The stock’s 50-day moving average price is $8.55 and its 200 day moving average price is $8.83.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 10.21%. The ex-dividend date is Wednesday, September 29th. Annaly Capital Management’s payout ratio is 80.00%.

About Annaly Capital Management

Annaly Capital Management, Inc engages in the investment and financing of residential and commercial assets. It operates through the following investment groups: Agency, Residential Credit, Commercial Credit and Middle Market Lending. The Agency group invests in agency mortgage-backed securities. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets.

Featured Story: Conference Calls and Individual Investors

Get a free copy of the Zacks research report on Annaly Capital Management (NLY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Annaly Capital Management (NYSE:NLY)

Receive News & Ratings for Annaly Capital Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Annaly Capital Management and related companies with MarketBeat.com's FREE daily email newsletter.