PennyMac Mortgage Investment Trust (PMT) to Post Q3 2016 Earnings of $0.42 Per Share, Wedbush Forecasts
PennyMac Mortgage Investment Trust (NYSE:PMT) – Investment analysts at Wedbush issued their Q3 2016 EPS estimates for shares of PennyMac Mortgage Investment Trust in a report released on Wednesday. Wedbush analyst J. Weaver forecasts that the brokerage will post earnings per share of $0.42 for the quarter. Wedbush has a “Neutral” rating and a $16.75 price objective on the stock. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q4 2016 earnings at $0.33 EPS, FY2016 earnings at $0.88 EPS, Q1 2017 earnings at $0.36 EPS, Q2 2017 earnings at $0.48 EPS, Q3 2017 earnings at $0.43 EPS, Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $1.70 EPS and FY2018 earnings at $1.50 EPS.
Several other equities analysts have also recently issued reports on the company. Bank of America Corp. cut PennyMac Mortgage Investment Trust from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 12th. Zacks Investment Research cut PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a report on Thursday, August 18th. Barclays PLC set a $15.00 price objective on PennyMac Mortgage Investment Trust and gave the company a “hold” rating in a report on Monday, July 25th. Finally, Keefe, Bruyette & Woods decreased their price objective on PennyMac Mortgage Investment Trust from $18.50 to $18.00 and set an “outperform” rating for the company in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and a consensus target price of $16.61.
PennyMac Mortgage Investment Trust (NYSE:PMT) opened at 14.39 on Monday. PennyMac Mortgage Investment Trust has a 52 week low of $10.91 and a 52 week high of $16.93. The company’s 50-day moving average price is $15.17 and its 200-day moving average price is $15.03. The company has a market capitalization of $973.56 million, a price-to-earnings ratio of 16.67 and a beta of 0.64.
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PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.30. PennyMac Mortgage Investment Trust had a net margin of 26.07% and a return on equity of 4.41%. The firm had revenue of $47.60 million for the quarter, compared to the consensus estimate of $67.85 million. During the same period in the previous year, the company posted $0.36 earnings per share. PennyMac Mortgage Investment Trust’s quarterly revenue was down 31.8% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Friday, October 7th will be paid a $0.47 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.88 annualized dividend and a dividend yield of 13.06%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 229.27%.
In other PennyMac Mortgage Investment Trust news, insider Jeffrey Grogin sold 12,694 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $16.23, for a total transaction of $206,023.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott W. Carnahan acquired 3,341 shares of the business’s stock in a transaction on Wednesday, September 21st. The shares were purchased at an average price of $15.22 per share, with a total value of $50,850.02. Following the completion of the purchase, the director now owns 49,203 shares in the company, valued at approximately $748,869.66. The disclosure for this purchase can be found here. 1.80% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. raised its stake in PennyMac Mortgage Investment Trust by 149.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 38,725 shares of the company’s stock valued at $528,000 after buying an additional 23,170 shares during the period. Prudential Financial Inc. raised its stake in PennyMac Mortgage Investment Trust by 31.7% in the first quarter. Prudential Financial Inc. now owns 531,553 shares of the company’s stock valued at $7,250,000 after buying an additional 127,800 shares during the period. Menta Capital LLC purchased a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at approximately $299,000. Goldman Sachs Group Inc. raised its stake in PennyMac Mortgage Investment Trust by 19.2% in the first quarter. Goldman Sachs Group Inc. now owns 366,062 shares of the company’s stock valued at $4,993,000 after buying an additional 58,984 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at approximately $1,960,000. Institutional investors own 61.30% of the company’s stock.
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. It operates through two segments: correspondent production and investment activities.
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