Western Asset Mortgage Capital Corp (WMC) Posts Quarterly Earnings Results, Beats Expectations By $0.36 EPS
Western Asset Mortgage Capital Corp (NYSE:WMC) announced its earnings results on Thursday. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.20 by $0.36, Analyst Ratings Network reports. The company had revenue of $20.00 million for the quarter, compared to the consensus estimate of $789.30 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was down 30.1% on a year-over-year basis.
A number of research firms have recently commented on WMC. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Western Asset Mortgage Capital Corp in a research note on Wednesday, April 16th. They now have a $13.50 price target on the stock. Analysts at Compass Point downgraded shares of Western Asset Mortgage Capital Corp from a “buy” rating to a “neutral” rating in a research note on Monday, March 24th. They now have a $16.00 price target on the stock, down previously from $16.50. Eight equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus price target of $16.30.
Western Asset Mortgage Capital Corp (NYSE:WMC) traded down 4.36% on Thursday, hitting $14.03. 813,410 shares of the company’s stock traded hands. Western Asset Mortgage Capital Corp has a 1-year low of $14.18 and a 1-year high of $21.85. The stock has a 50-day moving average of $15.09 and a 200-day moving average of $15.65. The company’s market cap is $376.7 million. Western Asset Mortgage Capital Corp also was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 2,239,173 shares, a drop of 55.0% from the March 31st total of 4,975,517 shares. Based on an average daily trading volume, of 2,039,201 shares, the days-to-cover ratio is presently 1.1 days. Approximately 8.4% of the shares of the company are sold short.
Western Asset Mortgage Capital Corporation is focused on investing in, financing and managing primarily residential mortgage-backed securities (NYSE:WMC), which are not issued or guaranteed by a United States Government agency or federally chartered corporation, or non-Agency RMBS.
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