New York Mortgage Trust, Inc. (NASDAQ:NYMT) is rated as Buy by analysts at Maxim Group. The firm was pushed by the stock performance to change their PT view from $6.50 to $6.25 on February 21. Analysts at Ladenburg Thalmann, shed their positive views on March 24 by lowering it fromBuy to Neutral. Brokerage firm Maxim Group, looks cautious as they stick to prior recommendation of Buy, in a call on December 19. However, they did change the target price from $6.75 to $7.
New York Mortgage Trust, Inc. (NYMT) hit an intraday high Thursday at $6.09. The shares finished at $6.04, after trading as low as $5.99 earlier in the session. It dropped -2.27% in recent trade and currently has a stock-market value of $926.96M. Trading activity significantly improved as the volume at ready counter increased to 2,138,277 shares versus 1,488,160 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 1,532,810 shares. The stock is now 12.9% above against its bear-market low of $5.35 on February 06, 2018. It has retreated -8.28% since it’s 52-week high of $6.54 reached in August. Now the market price is down -5.18% on the year and down -2.11% YTD.
NYMT’s 50 day simple moving average (SMA 50) price is $6.08 and its 200-day simple moving average (SMA 200) price is $6.12. The company’s stock currently has a total float of 152.53M shares. Its weekly volatility is hovering around 1.25% and felt 1.37% volatility in price over a month. On the upside, the share price will test short term resistance at around $6.09. On a downside, the stock is likely to find some support, which begins at $5.99. The failure to get near-term support could push it to $5.94.
Separately, it has been reported that multiple insider activity took place at New York Mortgage Trust, Inc. (NYMT). Director Hainey Alan L sold 200 shares for $131,371 in transaction occurred on 2017/12/12. After making this transaction, the Director owns a direct stake of 1,276 shares, worth $793,481, as per the last closing price. On 2016/06/09 Donlon Kevin M., President at NYMT, purchased 58,004 shares at an average price of $6.3 per share. The new stake is valued at $3,134,760.
President, Donlon Kevin M. had invested in 203,396 shares for $460,996 through a trade on 2016/05/31. Following this activity, the insider holds 1,204,104 shares worth $2,784,416 as of recent close. Wall Street’s most bullish New York Mortgage Trust, Inc. (NASDAQ:NYMT) analysts are predicting the share price to blow past $6.75 per share during the next 12 months. The current median share price forecast by them is $5.5, suggesting that the stock could increase -8.94% in that time frame. The average price target of $5.85 calls for a nearly -3.15% increase in the stock price.
When looking at valuations, New York Mortgage Trust, Inc. (NYMT) has a cheap P/E of 8.31x as compared to industry average of 36.44x. Moreover, it trades for 8.99 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.98x price/book and 1.79x price/sales. Compared to others, New York Mortgage Trust, Inc. is in a different league with regards to profitability, having net margins of 19.4%. To put some perspective around this, the industry’s average net margin is 37.37%. NYMT’s ROE is 13.9%, which is also considerably worse than the industry’s ROE of 14.34%.
Shares of New York Mortgage Trust, Inc. (NYMT) have dropped -1.9% since the company’s last earnings report. Over the past 9 fiscal quarters, New York Mortgage Trust, Inc. (NASDAQ:NYMT) has topped consensus earnings estimates in 4 quarters (33%), missed earnings in 5 quarters (41%), whereas at 0 occasion EPS met analyst expectations. Revenue for the recent quarter stood at $19.6 million, up 47% on last year and above the $18.56 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $16.7 million to $29.55 million, which should be compared with $20.85 million generated last year. EPS is seen in a range of $0.1 to $0.22, against the $0.15 reported a year ago.