Zacks: Analysts Expect Great Ajax Corp. (NYSE:AJX) Will Post Quarterly Sales of $15.46 Million

Equities research analysts expect Great Ajax Corp. (NYSE:AJX – Get Rating) to announce sales of $15.46 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Great Ajax’s earnings, with estimates ranging from $13.90 million to $16.80 million. Great Ajax reported sales of $14.22 million during the same quarter last year, which indicates a positive year over year growth rate of 8.7%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Great Ajax will report full-year sales of $61.66 million for the current financial year, with estimates ranging from $57.20 million to $64.89 million. For the next year, analysts expect that the business will post sales of $64.85 million, with estimates ranging from $60.10 million to $69.60 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Great Ajax.

Great Ajax (NYSE:AJX – Get Rating) last posted its earnings results on Thursday, May 5th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.21). Great Ajax had a net margin of 53.18% and a return on equity of 9.55%. During the same period in the previous year, the company earned $0.30 earnings per share.

Several analysts have commented on the company. StockNews.com assumed coverage on Great Ajax in a research note on Thursday, March 31st. They set a “hold” rating for the company. JMP Securities reduced their price objective on Great Ajax from $15.00 to $11.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 26th. Zacks Investment Research downgraded Great Ajax from a “hold” rating to a “sell” rating in a research note on Tuesday, May 17th. Finally, Compass Point raised Great Ajax from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.75.

Great Ajax stock opened at $10.53 on Friday. The stock has a 50-day simple moving average of $10.11 and a 200-day simple moving average of $11.76. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market capitalization of $244.13 million, a P/E ratio of 8.29 and a beta of 1.80. Great Ajax has a fifty-two week low of $8.68 and a fifty-two week high of $14.74.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 9.88%. The ex-dividend date of this dividend is Friday, May 13th. Great Ajax’s payout ratio is 81.89%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AJX. Metropolitan Life Insurance Co NY acquired a new position in Great Ajax during the 3rd quarter worth approximately $80,000. BNP Paribas Arbitrage SA grew its holdings in shares of Great Ajax by 51.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,261 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 2,119 shares during the period. Barclays PLC grew its holdings in shares of Great Ajax by 227.0% in the 3rd quarter. Barclays PLC now owns 8,972 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 6,228 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Great Ajax by 54.3% in the 1st quarter. MetLife Investment Management LLC now owns 12,130 shares of the real estate investment trust’s stock worth $142,000 after acquiring an additional 4,270 shares during the period. Finally, Voya Investment Management LLC acquired a new stake in shares of Great Ajax in the 3rd quarter worth approximately $148,000. Institutional investors own 80.85% of the company’s stock.

Great Ajax Company Profile (Get Rating)

Great Ajax Corp., real estate company, acquires, invests in, and manages a portfolio of residential mortgage and small balance commercial mortgage loans. The company also holds real estate owned properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases.

Recommended Stories