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Annaly Capital Management Inc. (NLY): Why Is The Stock Strong?

Annaly Capital Management Inc. (NYSE:NLY) has a beta value of 1.40 and has seen 5.11 million shares traded in the last trading session. The company, currently valued at $10.36B, closed the last trade at $22.41 per share which meant it lost -$0.2 on the day or -0.88% during that session. The NLY stock price is -41.72% off its 52-week high price of $31.76 and 32.57% above the 52-week low of $15.11. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.97 million shares traded. The 3-month trading volume is 7.10 million shares.

The consensus among analysts is that Annaly Capital Management Inc. (NLY) is an Overweight stock at the moment, with a recommendation rating of 2.50. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 7 out of 13 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.92.

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Annaly Capital Management Inc. (NYSE:NLY) trade information

Sporting -0.88% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the NLY stock price touched $22.41 or saw a rise of 17.55%. Year-to-date, Annaly Capital Management Inc. shares have moved 6.31%, while the 5-day performance has seen it change -0.40%. Over the past 30 days, the shares of Annaly Capital Management Inc. (NYSE:NLY) have changed 0.58%. Short interest in the company has seen 16.24 million shares shorted with days to cover at 1.

Wall Street analysts have a consensus price target for the stock at $21.15, which means that the shares’ value could drop -5.96% from current levels. The projected low price target is $18.50 while the price target rests at a high of $24.50. In that case, then, we find that the current price level is -9.33% off the targeted high while a plunge would see the stock lose 17.45% from current levels.

Annaly Capital Management Inc. (NLY) estimates and forecasts

Figures show that Annaly Capital Management Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -13.54% over the past 6 months, with this year growth rate of -9.05%, compared to -4.20% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -17.90% and -20.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 28.70%.

5 analysts offering their estimates for the company have set an average revenue estimate of $643.36 million for the current quarter. 3 have an estimated revenue figure of $599 million for the next quarter concluding in Mar 2023. Year-ago sales stood $544.28 million and $655.85 million respectively for this quarter and the next, and analysts expect sales will grow by 18.20% for the current quarter and -8.70% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 2.80% over the past 5 years. Earnings growth for 2023 is a modest 318.80% while over the next 5 years, the company’s earnings are expected to decrease by -4.98%.

NLY Dividends

Annaly Capital Management Inc. is expected to release its next earnings report between February 07 and February 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 3.52 at a share yield of 15.71%. The company’s dividend yield has gone up over the past 12 months.

Annaly Capital Management Inc. (NYSE:NLY)’s Major holders

Insiders own 0.23% of the company shares, while shares held by institutions stand at 42.87% with a share float percentage of 42.97%. Investors are also buoyed by the number of investors in a company, with Annaly Capital Management Inc. having a total of 894 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 35.96 million shares worth more than $849.99 million. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 8.34% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 32.78 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $774.93 million and represent 7.60% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. As of Sep 29, 2022, the former fund manager holds about 2.91% shares in the company for having 12.55 million shares of worth $215.3 million while later fund manager owns 11.47 million shares of worth $271.15 million as of Jun 29, 2022, which makes it owner of about 2.66% of company’s outstanding stock.

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