Surging Earnings Estimates Signal Good News for Western Asset Mortgage (WMC)
Western Asset Mortgage Capital Corporation (WMC) is a real estate company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on WMC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Western Asset Mortgage could be a solid choice for investors.
Current Quarter Estimates for WMC
In the past 30 days, 3 estimates have gone higher for Western Asset Mortgage with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates increasing from 56 cents a share 30 days ago, to 67 cents today, a move of 19.6%.
Current Year Estimates for WMC
Meanwhile, Western Asset Mortgage’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to no downward revisions. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.13 per share 30 days ago to $2.64 per share today, an increase of 23.9%.
Bottom Line
The stock has also started to move higher lately, adding 11.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.
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WESTERN ASSET MORTGAGE CAPITAL C (WMC): Free Stock Analysis Report
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