Stonegate Mortgage Corp (SGM) Releases Quarterly Earnings, Beats Estimates By $0.01 EPS
Stonegate Mortgage Corp (NYSE:SGM) posted its quarterly earnings results on Thursday. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.01, American Banking News.com reports. The company had revenue of $57.60 million for the quarter, compared to the consensus estimate of $62.80 million. Stonegate Mortgage Corp’s revenue was up 32.7% compared to the same quarter last year.
Shares of Stonegate Mortgage Corp (NYSE:SGM) traded up 2.23% on Thursday, hitting $13.31. The stock had a trading volume of 27,198 shares. Stonegate Mortgage Corp has a 52-week low of $11.81 and a 52-week high of $18.94. The stock has a 50-day moving average of $13.56 and a 200-day moving average of $14.11. The company has a market cap of $343.0 million and a P/E ratio of 54.48.
A number of analysts have recently weighed in on SGM shares. Analysts at Compass Point initiated coverage on shares of Stonegate Mortgage Corp in a research note on Wednesday, July 16th. They set a “neutral” rating and a $13.00 price target on the stock. On the ratings front, analysts at Zacks downgraded shares of Stonegate Mortgage Corp from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 9th. They now have a $13.00 price target on the stock. Finally, analysts at FBR Capital Markets cut their price target on shares of Stonegate Mortgage Corp from $18.00 to $16.00 in a research note on Monday, July 7th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $16.29.
Stonegate Mortgage Corporation is a United States-based specialty financial services firm focused on the United States residential mortgage market.
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