Walter Investment Management Corp Given Consensus Rating of “Hold” by Brokerages (NYSE:WAC)
Walter Investment Management Corp (NYSE:WAC) has been given a consensus rating of “Hold” by the ten brokerages that are presently covering the company, AnalystRatingsNetwork reports. Four equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $30.74.
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, August 18th. 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, August 18th. 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 bought 7,900 shares of the company’s stock on the open market in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $24.83 per share, for a total transaction of $196,157.00. The acquisition was disclosed in a filing with the SEC, which is available at this link.
Walter Investment Management Corp (NYSE:WAC) opened at 25.89 on Wednesday. Walter Investment Management Corp has a one year low of $23.51 and a one year high of $41.85. The stock has a 50-day moving average of $27.20 and a 200-day moving average of $28.15. The company has a market cap of $976.2 million and a price-to-earnings ratio of 11.46.
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 $5.39 earnings per share for the current fiscal year.
Walter Investment Management Corp., together with its subsidiaries, is a fee-based business services provider to the residential mortgage industry.
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