Walter Investment Management Corp Receives Average Recommendation of “Hold” from Brokerages (NYSE:WAC)
Shares of Walter Investment Management Corp (NYSE:WAC) have earned an average recommendation of “Hold” from the ten brokerages that are covering the company, Analyst RN reports. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $30.74.
Walter Investment Management Corp (NYSE:WAC) opened at 24.92 on Wednesday. Walter Investment Management Corp has a 52-week low of $23.51 and a 52-week high of $41.85. The stock’s 50-day moving average is $27.49 and its 200-day moving average is $28.23. The company has a market cap of $939.6 million and a P/E ratio of 10.99.
Walter Investment Management Corp (NYSE:WAC) last announced its earnings results on Monday, August 11th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $4.75 earnings per share. The company’s revenue for the quarter was down 30.6% on a year-over-year basis. On average, analysts predict that Walter Investment Management Corp will post $5.42 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on WAC shares. Analysts at Zacks downgraded shares of Walter Investment Management Corp from a “neutral” rating to an “underperform” rating in a research note on Monday. They now have a $24.20 price target on the stock. Separately, analysts at Compass Point cut their price target on shares of Walter Investment Management Corp from $23.00 to $18.00 in a research note on Monday. They now have a “sell” rating on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Walter Investment Management Corp in a research note on Tuesday, August 12th. They now have a $40.00 price target on the stock, down previously from $44.00.
In other Walter Investment Management Corp news, CFO Gary Tillett purchased 7,900 shares of the stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $24.83 per share, with a total value of $196,157.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
Walter Investment Management Corp., together with its subsidiaries, is a fee-based business services provider to the residential mortgage industry.
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