AG Mortgage Investment Q2 2024 Adj. EPS $0.21 Misses $0.26 Estimate, Sales $16.381M Miss $17.026M Estimate
Portfolio Pulse from Benzinga Newsdesk
AG Mortgage Investment (NYSE:MITT) reported Q2 2024 adjusted EPS of $0.21, missing the $0.26 estimate. Sales were $16.381M, below the $17.026M estimate. Despite missing estimates, EPS increased by 162.5% and sales by 44.21% year-over-year.
August 02, 2024 | 10:36 am
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NEGATIVE IMPACT
AG Mortgage Investment's Q2 2024 earnings and sales missed analyst estimates, with EPS at $0.21 vs. $0.26 expected and sales at $16.381M vs. $17.026M expected. However, both EPS and sales showed significant year-over-year growth.
The missed earnings and sales estimates are likely to have a negative short-term impact on MITT's stock price. However, the significant year-over-year growth in both EPS and sales may mitigate some of the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100