Can Shares Of New York Mortgage Trust, Inc. (NASDAQ:NYMT) Touch $5?

Can Shares Of New York Mortgage Trust, Inc. (NASDAQ:NYMT) Touch $5?

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As per Zacks Research report, the stock of New York Mortgage Trust, Inc. (NASDAQ:NYMT) have been placed the high price target of $7. The brokerages have the price estimate fixed at $ 6. This indicates the expert opinion of 5 brokerages that have assigned the 12-month price target on the company’s stock. On the contrary, the bearish target is set at $5.

Zacks converts the different ratings of the brokerages on a scale of 1-5. This new rating is called as the average brokerage recommendation (ABR). On this rating system, 1 score denotes a recommendation of Strong Buy. Based on this mechanism, New York Mortgage Trust, Inc. (NASDAQ:NYMT) stock has been placed a rating of 2.2. The standard deviation of projections is 0.79.

A company’s financial performance is one of the influential elements that decide a stock’s future movement. For the period ended on 2015-12-31, New York Mortgage Trust, Inc. (NASDAQ:NYMT) reported earnings of $0.14. The posted earnings came $-0.2 below the market consensus, conveying a surprise factor of -95.24%.

For the next quarter, the EPS is projected at $0.14 for the company, and it shows the market view of 5 brokerages, which participated in Zacks poll.

A month earlier, the total count of strong buy recommendations was 2 and strong sell was 0. The mean analyst rating during this period was 2.2.

A month ago, the Buy recommendations stood at 0 and Hold recommendations count was 3. The Sell recommendations came in at 0.

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