Nomura Securities Maintains a 'Buy' on American Capital Agency (AGNC); Excellent Qtr

Nomura Securities maintains a 'Buy' on American Capital Agency (NASDAQ: AGNC) price target of $30.00.

Analyst, Bill Carcache, said, "AGNC reported 1Q12 GAAP EPS of $2.66. Excluding unrealized losses on swaps and other derivatives, we peg “core” EPS at $2.32, a significant beat versus our estimate of $1.23 and consensus of $1.21. The beat relative to our estimate was driven by a combination of higher-than-expected spread income and greater-than-expected realized gains associated with active portfolio management. Wednesday’s closing price. Barring a significant flattening of the yield curve, our analysis suggests that AGNC is capable of sustaining its $1.25 quarterly dividend. Overall, we believe it was an excellent quarter."

For an analyst ratings summary and ratings history on American Capital Agency click here. For more ratings news on American Capital Agency click here.

Shares of American Capital Agency closed at $31.14 yesterday.

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