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Walter Investment Management Corp (NYSE:WAC) was downgraded by FBR Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $28.00 target price on the stock, down from their previous target price of $32.00. FBR Capital Markets’ target price indicates a potential upside of 13.13% from the company’s current price.

Walter Investment Management Corp (NYSE:WAC) traded down 1.86% during mid-day trading on Tuesday, hitting $24.29. The stock had a trading volume of 459,938 shares. Walter Investment Management Corp has a 1-year low of $24.00 and a 1-year high of $41.85. The stock has a 50-day moving average of $28.20 and a 200-day moving average of $28.50. The company has a market cap of $914.3 million and a P/E ratio of 3.90.

Walter Investment Management Corp (NYSE:WAC) last issued its quarterly earnings data on Monday, August 11th. The company reported $1.19 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.22 by $0.03. The company had revenue of $413.71 million for the quarter, compared to the consensus estimate of $381.07 million. During the same quarter in the prior year, the company posted $4.75 earnings per share. The company’s quarterly revenue was down 30.6% on a year-over-year basis. On average, analysts predict that Walter Investment Management Corp will post $5.22 earnings per share for the current fiscal year.

WAC has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. downgraded shares of Walter Investment Management Corp from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 16th. Separately, analysts at Jefferies Group downgraded shares of Walter Investment Management Corp from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. They now have a $27.00 price target on the stock, down previously from $38.00. Finally, analysts at Compass Point downgraded shares of Walter Investment Management Corp from a “neutral” rating to a “sell” rating in a research note on Thursday, May 15th. They now have a $23.00 price target on the stock, down previously from $28.00. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.00.

Walter Investment Management Corp., together with its subsidiaries, is a fee-based business services provider to the residential mortgage industry.

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