FBR Capital Markets Downgrades PennyMac Financial Services to Market Perform (PFSI)
PennyMac Financial Services (NYSE:PFSI) was downgraded by equities research analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $25.00 target price on the stock, up from their previous target price of $19.00. FBR Capital Markets’ target price indicates a potential upside of 36.46% from the company’s current price.
Shares of PennyMac Financial Services (NYSE:PFSI) traded down 2.62% on Friday, hitting $17.84. 13,912 shares of the company’s stock traded hands. PennyMac Financial Services has a 1-year low of $15.75 and a 1-year high of $23.33. The stock’s 50-day moving average is $17.70 and its 200-day moving average is $18.15.
PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Wednesday, November 6th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.38 by $0.10. The company had revenue of $87.20 million for the quarter, compared to the consensus estimate of $109.10 million. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Analysts expect that PennyMac Financial Services will post $1.46 EPS for the current fiscal year.
A number of other firms have also recently commented on PFSI. Analysts at Compass Point cut their price target on shares of PennyMac Financial Services from $16.50 to $15.50 in a research note to investors on Monday, November 11th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of PennyMac Financial Services from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, November 11th. They now have a $17.60 price target on the stock. Finally, analysts at Wells Fargo & Co. downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $20.82.
PennyMac Financial Services, Inc is a specialty financial services firm with a mortgage platform and integrated business focused on the production and servicing of United States residential mortgage loans and the management of investments related to the United States residential mortgage market.
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