AG Mortgage Investment Trust(US:MITT) ZACKS·2024-11-05 13:51Company Performance - AG Mortgage Investment Trust (MITT) reported quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.20 per share, but showing an increase from $0.10 per share a year ago, representing an earnings surprise of -15% [1] - The company posted revenues of $14.95 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 6.56%, compared to year-ago revenues of $11.52 million [2] - Over the last four quarters, AG Mortgage Investment Trust has not surpassed consensus EPS or revenue estimates [2] Stock Performance and Outlook - AG Mortgage Investment Trust shares have increased approximately 12.3% since the beginning of the year, while the S&P 500 has gained 19.8% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.21 on $17 million in revenues, and $0.84 on $66 million in revenues for the current fiscal year [7] Industry Context - The REIT and Equity Trust industry, to which AG Mortgage Investment Trust belongs, is currently ranked in the top 33% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The estimate revisions trend for AG Mortgage Investment Trust is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [6]