JonesResearch analyst Jason Weaver has revised the price target for Dynex Capital (DX, Financial), lowering it from $13.25 to $12.50 while maintaining a Buy rating on the stock. This adjustment follows the company's recent quarterly results, indicating a promising outlook for mortgage-backed securities despite a decrease in the book value per share for the current quarter.
In recent developments, Dynex Capital reported an increase of approximately $110 million in the fair value of its $11.1 billion investment portfolio. This positive change contrasted with a $118 million decrease in the fair value of its hedge portfolio. Nonetheless, the company is expected to continue a disciplined approach to capital deployment, particularly as it navigates historically wide spreads, which could significantly enhance its earnings dynamics.
With these strategic considerations, Dynex is anticipated to improve its financial health, making it an attractive prospect for investors despite the adjusted price target.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Dynex Capital Inc (DX, Financial) is $13.88 with a high estimate of $16.00 and a low estimate of $11.00. The average target implies an upside of 21.34% from the current price of $11.44. More detailed estimate data can be found on the Dynex Capital Inc (DX) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, Dynex Capital Inc's (DX, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Dynex Capital Inc (DX, Financial) in one year is $8.31, suggesting a downside of 27.33% from the current price of $11.435. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Dynex Capital Inc (DX) Summary page.
