Western Asset Mortgage Capital Corp Upgraded to Outperform at Zacks (WMC)
Western Asset Mortgage Capital Corp (NYSE:WMC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Wednesday. The firm currently has a $15.80 price target on the stock. Zacks‘s target price would indicate a potential upside of 7.12% from the company’s current price.
Western Asset Mortgage Capital Corp (NYSE:WMC) traded down 0.58% during mid-day trading on Wednesday, hitting $14.665. The stock had a trading volume of 386,386 shares. Western Asset Mortgage Capital Corp has a 52-week low of $13.50 and a 52-week high of $17.77. The stock has a 50-day moving average of $13. and a 200-day moving average of $14.8. The company has a market cap of $611.8 million and a P/E ratio of 4.92.
Western Asset Mortgage Capital Corp (NYSE:WMC) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.75 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.56 by $0.19. During the same quarter last year, the company posted $0.94 earnings per share. On average, analysts predict that Western Asset Mortgage Capital Corp will post $2.64 earnings per share for the current fiscal year.
A number of other firms have also recently commented on WMC. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Western Asset Mortgage Capital Corp in a research note on Tuesday. They now have a $14.00 price target on the stock, down previously from $16.41. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Western Asset Mortgage Capital Corp in a research note on Monday. They now have a $15.25 price target on the stock, up previously from $15.00. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $14.79.
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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