Granite Point Mortgage Trust (GPMT) Third Quarter Earnings and Earnings Lagging Expectations

Granite Point Mortgage Trust (GPMT) posted quarterly earnings of $0.17 per share, below the Zacks Consensus estimate of $0.21 per share. This compares to his earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report presents an earnings surprise of -19.05%. A quarter ago, the real estate investment trust was expected to post earnings of $0.22 per share, when in fact he generated earnings of $0.22, not surprising was.

In the past four quarters, the company has beaten consensus EPS estimates just once.

Granite Point Mortgage TrustIt belongs to the Zacks REIT and Equity Trust industries. He’s the only time the company has beaten consensus earnings estimates in the past four quarters.

The sustainability of the immediate share price movement based on recent figures and future earnings projections depends primarily on management’s comments on the financial results.

Granite Point Mortgage Trust shares are down about 37.7% year-to-date compared to a -20.1% decline in the S&P 500.

What’s next for Granite Point Mortgage Trust?

Granite Point Mortgage Trust has underperformed the market so far this year, but the questions on the mind of investors are:

There is no easy answer to this important question, but one reliable metric that can help investors address this is a company’s earnings outlook. This includes not only the current consensus earnings projections for the next quarter, but also how those projections have changed recently.

Empirical studies show a strong correlation between short-term stock price movements and earnings forecast revision trends. Investors can track such revisions themselves or rely on proven valuation tools like Zacks Rank, which has an impressive track record of harnessing the power of revenue forecast revisions.

ahead Financial results announcement, Granite Point Mortgage Trust Estimates Revised Trend: Mixed. The magnitude and direction of the revision to estimates could change as per the company’s just-released earnings report, but the current situation translates to a rank #3 (hold) of Zak’s stock. Therefore, the stock is expected to perform in line with the market in the near can see Here is the complete list of today’s #1 (strong buy) Zachs stocks..

It will be interesting to see how estimates for the coming quarters and the current fiscal year change going forward. Current consensus EPS estimates are $0.22 on next quarter earnings of $22.4 million and $0.69 on earnings of $89.9 million this fiscal year.

Investors should be mindful of the fact that industry outlook can also have a significant impact on stock price performance. In terms of Zacks industry ranks, REIT and Equity Trust are currently in the bottom 30% of his Zacks industry of over 250. Our research shows that the top 50% of industries ranked by Zacks do him more than twice as well as the bottom 50%.

Another stock in the same industry, Starwood Property Trust (STWD), has yet to report results for the quarter ended September 2022. The results he will be announced on November 9th.

The commercial real estate investment trust is expected to post quarterly earnings of $0.51 per share in its next report, representing a -1.9% change year-over-year. Consensus EPS estimates for the quarter were revised down 4.7% to current levels over the past 30 days.

Starwood Property Trust revenues are expected to be $408.53 million, up 35.2% from the prior year period.

Sachs Names ‘Best Single-to-Double Pick’

Out of thousands of stocks, each of our five Zacks experts picked their favorites to surge +100% or more in the coming months. Out of these five, research director Heraz Mian chose her one with the most explosive advantages.

A little-known chemical company, up 65% from last year, but still cheap. With relentless demand, his skyrocketing earnings forecast for 2022, and a $1.5 billion stock buyback, retail investors are ready to jump in.

The company rivals other recent Zacks stock doublings as Boston Beer Company surges +143.0% in just over nine months and NVIDIA surges +175.9% in a year. or may exceed it.

Free: See Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Download today the 7 Best Stocks of the Next 30 Days.Click to get this free report

Granite Point Mortgage Trust Inc. (GPMT): Free Stock Analysis Report

STARWOOD PROPERTY TRUST, INC. (STWD): Free Stock Analysis Report

Click here to read this article on

Zacks Investment Research

The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.

Leave a Comment