Western Asset Mortgage Capital Corporation (WMC) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS
Western Asset Mortgage Capital Corporation (NYSE:WMC) posted its earnings results on Tuesday. The financial services provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02), Bloomberg Earnings reports. Western Asset Mortgage Capital Corporation had a return on equity of 5.97% and a net margin of 27.34%. The business had revenue of $18.57 million for the quarter, compared to the consensus estimate of $17.10 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis.
Western Asset Mortgage Capital Corporation (NYSE WMC) opened at $9.76 on Wednesday. The company has a debt-to-equity ratio of 6.31, a current ratio of 199.29 and a quick ratio of 199.29. The firm has a market cap of $412.07, a PE ratio of 15.46 and a beta of 0.73. Western Asset Mortgage Capital Corporation has a 52 week low of $9.43 and a 52 week high of $11.18.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Monday, October 2nd were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 12.70%. The ex-dividend date of this dividend was Friday, September 29th. Western Asset Mortgage Capital Corporation’s payout ratio is 151.22%.
A number of equities research analysts have issued reports on WMC shares. Zacks Investment Research downgraded shares of Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 17th. JMP Securities started coverage on shares of Western Asset Mortgage Capital Corporation in a research report on Tuesday, July 25th. They issued a “market perform” rating for the company. Finally, BidaskClub downgraded shares of Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.00.
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Western Asset Mortgage Capital Corporation Company Profile
Western Asset Mortgage Capital Corporation is a real estate investment trust. The Company is focused on investing in, financing and managing a diversified portfolio of real estate-related securities, whole-loans and other financial assets. The Company’s portfolio includes Agency residential mortgage-backed securities (RMBS), including Mortgage pass-through certificates, Agency derivatives, Agency Interest-Only Strips and Agency collateralized mortgage obligations (CMOs); Non-Agency RMBS, and Agency commercial mortgage-backed securities (CMBS), Non-Agency CMBS, Non United States CMBS and asset-backed securities (ABS), as well as Residential and Commercial Whole-Loans.
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