Orchid Island Capital estimates Q2 net income at $0.44 per share, aided by RMBS gains
ORC•Drivers of the estimate
The company said estimated second-quarter net income included $0.18 per share of net realized and unrealized gains on RMBS and derivative instruments.
Outlook and analyst coverage
Orchid Island Capital did not provide specific guidance or an outlook for future quarters or the full year.
The current average analyst rating on the shares is "hold", with no "strong buy" or "buy" ratings, 4 "hold" ratings and no "sell" or "strong sell" ratings.
The average consensus recommendation for the specialized REITs peer group is "buy." Wall Street's median 12-month price target for Orchid Island Capital Inc is $7.50, about 10.1% above its July 10 closing price of $6.81.
The stock recently traded at 6 times the next 12-month earnings versus a P/E of 6 three months ago.
