New York Mortgage Trust (NYMT) Beats Q3 Earnings Estimates

Core Viewpoint - New York Mortgage Trust (NYMT) reported quarterly earnings of $0.39 per share, significantly exceeding the Zacks Consensus Estimate of $0.06 per share, marking an earnings surprise of 550% compared to a loss of $0.25 per share in the previous quarter [1][2]. Financial Performance - The company posted revenues of $20.24 million for the quarter ended September 2024, which was 8.43% below the Zacks Consensus Estimate, and an increase from $16.79 million year-over-year [2]. - Over the last four quarters, NYMT has surpassed consensus EPS estimates only once [2]. Stock Performance - NYMT shares have declined approximately 36.2% since the beginning of the year, contrasting with the S&P 500's gain of 22.3% [3]. - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6]. Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.08 on revenues of $23.48 million, while for the current fiscal year, the estimate is -$0.78 on revenues of $82.51 million [7]. - The trend of estimate revisions for NYMT is mixed, which may change following the recent earnings report [6]. Industry Context - The REIT and Equity Trust industry, to which NYMT belongs, is currently ranked in the top 38% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8].