Zacks: Analysts Expect Two Harbors Investment Corp (TWO) Will Post Quarterly Sales of $98.13 Million

Analysts expect Two Harbors Investment Corp (NYSE:TWO) to post sales of $98.13 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Two Harbors Investment’s earnings, with the lowest sales estimate coming in at $89.40 million and the highest estimate coming in at $106.85 million. Two Harbors Investment posted sales of $97.46 million during the same quarter last year, which suggests a positive year over year growth rate of 0.7%. The business is expected to report its next earnings report after the market closes on Tuesday, May 7th.

According to Zacks, analysts expect that Two Harbors Investment will report full year sales of $374.86 million for the current year, with estimates ranging from $349.20 million to $400.51 million. For the next fiscal year, analysts forecast that the business will report sales of $394.54 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Two Harbors Investment.

Two Harbors Investment (NYSE:TWO) last released its quarterly earnings results on Wednesday, February 6th. The real estate investment trust reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $89.65 million for the quarter, compared to analysts’ expectations of $106.46 million. Two Harbors Investment had a positive return on equity of 13.56% and a negative net margin of 4.12%. The company’s revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS.

A number of equities analysts recently weighed in on TWO shares. Barclays set a $15.00 price objective on Two Harbors Investment and gave the company a “buy” rating in a report on Saturday, February 9th. Maxim Group reissued a “buy” rating and set a $15.00 price objective on shares of Two Harbors Investment in a report on Thursday, February 7th. ValuEngine cut Two Harbors Investment from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Zacks Investment Research cut Two Harbors Investment from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Finally, Credit Suisse Group reissued a “hold” rating and set a $14.00 price objective on shares of Two Harbors Investment in a report on Thursday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $15.89.

In related news, CEO Thomas Siering purchased 3,500 shares of Two Harbors Investment stock in a transaction that occurred on Wednesday, February 20th. The shares were acquired at an average cost of $13.80 per share, for a total transaction of $48,300.00. Following the transaction, the chief executive officer now directly owns 1,104,342 shares in the company, valued at $15,239,919.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO William Roth sold 19,415 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $14.44, for a total value of $280,352.60. Following the transaction, the executive now owns 730,122 shares in the company, valued at $10,542,961.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,572 shares of company stock worth $1,859,327. 0.86% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of TWO. Alliancebernstein L.P. grew its holdings in Two Harbors Investment by 27.0% during the 3rd quarter. Alliancebernstein L.P. now owns 133,187 shares of the real estate investment trust’s stock worth $1,988,000 after acquiring an additional 28,281 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Two Harbors Investment by 24.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,012,943 shares of the real estate investment trust’s stock valued at $15,123,000 after buying an additional 199,121 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Two Harbors Investment by 89.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 52,450 shares of the real estate investment trust’s stock valued at $783,000 after buying an additional 24,835 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Two Harbors Investment in the 3rd quarter valued at about $1,733,000. Finally, Credit Suisse AG boosted its holdings in shares of Two Harbors Investment by 35.9% in the 3rd quarter. Credit Suisse AG now owns 251,557 shares of the real estate investment trust’s stock valued at $3,756,000 after buying an additional 66,518 shares during the period. Institutional investors and hedge funds own 56.85% of the company’s stock.

Shares of NYSE TWO remained flat at $$13.70 during trading hours on Monday. The company had a trading volume of 1,896,957 shares, compared to its average volume of 2,548,877. The stock has a market cap of $3.74 billion, a PE ratio of 6.95 and a beta of 0.52. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.45. Two Harbors Investment has a 52 week low of $12.63 and a 52 week high of $16.27.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Friday, March 29th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, March 28th. This represents a $1.88 annualized dividend and a yield of 13.72%. Two Harbors Investment’s payout ratio is 95.43%.

Two Harbors Investment Company Profile

Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; non-agency securities collateralized by prime mortgage loans, Alt-A mortgage loans, pay-option ARM loans, and subprime mortgage loans; and other assets, such as financial and mortgage-related assets, as well as residential mortgage loans and non-hedging transactions.

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