Newcastle Investment Corporation (NCT): Today's Featured Financial Winner
Newcastle Investment Corporation (NCT) pushed the Financial sector higher today making it today's featured financial winner. The sector as a whole closed the day down 1.1%. By the end of trading, Newcastle Investment Corporation rose 5 cents (0.7%) to $7.14 on average volume. Throughout the day, 2.2 million shares of Newcastle Investment Corporation exchanged hands as compared to its average daily volume of 1.7 million shares. The stock ranged in a price between $6.96-$7.27 after having opened the day at $7.02 as compared to the previous trading day's close of $7.09. Other companies within the Financial sector that increased today were: Citizens South Banking Corporation (CSBC), up 24.4%, First Capital Bancorp (FCVA), up 15.4%, Summit Financial Group (SMMF), up 9.8%, and Stratus Properties (STRS), up 9.7%. Operates as a REIT investing in credit-sensitive real estate securities, including commercial and residential mortgage-backed securities and unsecured REIT debt, mostly rated BBB or BB, which it seeks to match with liabilities with respect to interest rates and maturities. Newcastle Investment Corporation has a market cap of $878.5 million and is part of the real estate industry. The company has a P/E ratio of 3.5, above the average real estate industry P/E ratio of 2.3 and below the S&P 500 P/E ratio of 17.7. Shares are up 52.5% year to date as of the close of trading on Friday. Currently there are four analysts that rate Newcastle Investment Corporation a buy, no analysts rate it a sell, and none rate it a hold. TheStreet Ratings rates Newcastle Investment Corporation as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, attractive valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and generally poor debt management.
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