A correction may be in store for Granite Point Mortgage Trust Inc. (NYSE:GPMT) shares?

As of close of business last night, Granite Point Mortgage Trust Inc.’s stock clocked out at $6.12, up 1.66% from its previous closing price of $6.02. In other words, the price has increased by $+0.10 from its previous closing price. On the day, 337268 shares were traded.

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Ratios:

To gain a deeper understanding of GPMT’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 1.79 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 201.47. In the meantime, Its Debt-to-Equity ratio is 2.73 whereas as Long-Term Debt/Eq ratio is at 1.54.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Credit Suisse on May 14, 2021, Upgraded its rating to Outperform and sets its target price to $15 from $12 previously.

On March 26, 2020, JMP Securities Upgraded its rating to Mkt Outperform which previously was Mkt Perform but kept the price unchanged to $10.

On January 08, 2020, Credit Suisse started tracking the stock assigning a Neutral rating and target price of $18.Credit Suisse initiated its Neutral rating on January 08, 2020, with a $18 target price.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 1.54 while its Price-to-Book (P/B) ratio in mrq is 0.32.

Stock Price History:

Over the past 52 weeks, GPMT has reached a high of $12.66, while it has fallen to a 52-week low of $5.45. The 50-Day Moving Average of the stock is 7.09, while the 200-Day Moving Average is calculated to be 9.52.

Shares Statistics:

It appears that GPMT traded 620.16K shares on average per day over the past three months and 1.07M shares per day over the past ten days. A total of 52.35M shares are outstanding, with a floating share count of 51.44M. Insiders hold about 0.30% of the company’s shares, while institutions hold 67.30% stake in the company. Shares short for GPMT as of Oct 13, 2022 were 2.69M with a Short Ratio of 2.79M, compared to 1.1M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 5.14% and a Short% of Float of 6.45%.

Dividends & Splits

With its trailing 12-month dividend rate of 0.40, GPMT has a forward annual dividend rate of 1.00. Against a Trailing Annual Dividend Yield of 6.64%, it implies a Forward Annual Dividend Yield of 13.50%. The stock’s 5-year Average Dividend Yield is 9.49.

Earnings Estimates

As of right now, 4 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of $0.21 for the current quarter, with a high estimate of $0.24 and a low estimate of $0.17, while EPS last year was $0.09. The consensus estimate for the next quarter is $0.23, with high estimates of $0.31 and low estimates of $0.15.

Analysts are recommending an EPS of between $0.8 and $0.59 for the fiscal current year, implying an average EPS of $0.69. EPS for the following year is $1.02, with 4 analysts recommending between $1.3 and $0.82.

Revenue Estimates

In the current quarter, 4 analysts expect revenue to total $22.16M. It ranges from a high estimate of $23M to a low estimate of $21.33M. As of the current estimate, Granite Point Mortgage Trust Inc.’s year-ago sales were $22.1M, an estimated increase of 0.30% from the year-ago figure. For the next quarter, 4 analysts are estimating revenue of $23.31M, an increase of 16.20% over than the figure of $0.30% in the same quarter last year. There is a high estimate of $25.7M for the next quarter, whereas the lowest estimate is $22.4M.

A total of 4 analysts have provided revenue estimates for GPMT’s current fiscal year. The highest revenue estimate was $93.3M, while the lowest revenue estimate was $89.9M, resulting in an average revenue estimate of $91.15M. In the same quarter a year ago, actual revenue was $92.71M, down -1.70% from the average estimate. Based on 4 analysts’ estimates, the company’s revenue will be $100.63M in the next fiscal year. The high estimate is $106.8M and the low estimate is $92.8M. The average revenue growth estimate for next year is up 10.40% from the average revenue estimate for this year.