Capstead Mortgage (CMO) Misses Q1 EPS by 1c

Capstead Mortgage (NYSE: CMO) reported Q1 EPS of $0.16, $0.01 worse than the analyst estimate of $0.17.

First Quarter 2018 Highlights

• Generated earnings of $19.4 million or $0.16 per diluted common share
• Paid common dividend of $0.16 per common share
• Repurchased 3.4 million shares of common stock for $29.1 million, generating book value accretion of $0.06 per share
• Book value per common share declined 1.5% or $0.15, ending the quarter at $10.10 per common share, which together with the first quarter dividend, generated a positive economic return
• Generated a total stockholder return of 1.85% (7.71% annualized)
• Net interest margins were largely unchanged at $22.6 million as benefits of higher cash yields and lower mortgage prepayment rates largely offset higher borrowing rates and lower portfolio balances compared to the fourth quarter of 2017
• Agency-guaranteed residential adjustable-rate mortgage (ARM) portfolio and leverage ended the quarter at $13.05 billion and 9.26 times long-term investment capital, respectively

For earnings history and earnings-related data on Capstead Mortgage (CMO) click here.

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