Annaly Capital Management (NLY - Free Report) closed the most recent trading day at $9.46, moving +1.28% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.71%.
Prior to today's trading, shares of the real estate investment trust had gained 2.19% over the past month. This has outpaced the Finance sector's gain of 1.05% and the S&P 500's gain of 1.93% in that time.
NLY will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2019. On that day, NLY is projected to report earnings of $0.26 per share, which would represent a year-over-year decline of 13.33%.
It is also important to note the recent changes to analyst estimates for NLY. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NLY is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note NLY's current valuation metrics, including its Forward P/E ratio of 8.81. Its industry sports an average Forward P/E of 9.7, so we one might conclude that NLY is trading at a discount comparatively.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.