Western Asset Mortgage Capital Corp Upgraded to Neutral at Zacks (WMC)
Western Asset Mortgage Capital Corp (NYSE:WMC) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Wednesday. The firm currently has a $14.10 target price on the stock. Zacks‘s price target points to a potential upside of 2.40% from the stock’s previous close.
A number of other analysts have also recently weighed in on WMC. Analysts at Jefferies Group cut their price target on shares of Western Asset Mortgage Capital Corp from $16.00 to $14.00 in a research note on Friday, May 9th. They now have a “hold” rating on the stock. 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. Seven equities research analysts have rated the stock with a hold rating, Western Asset Mortgage Capital Corp presently has a consensus rating of “Hold” and a consensus price target of $15.01.
Western Asset Mortgage Capital Corp (NYSE:WMC) remained flat at $13.77 during during mid-day trading trading on Wednesday. The stock had a trading volume of 196,610 shares. Western Asset Mortgage Capital Corp has a one year low of $13.50 and a one year high of $17.77. The stock’s 50-day moving average is $14.31 and its 200-day moving average is $15.01. The company’s market cap is $574.5 million.
Western Asset Mortgage Capital Corp (NYSE:WMC) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.36. 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 previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was down 30.1% on a year-over-year basis. Analysts expect that Western Asset Mortgage Capital Corp will post $2.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 29th. Investors of record on Monday, June 30th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 19.46%. The ex-dividend date of this dividend is Thursday, June 26th.
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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