Analysts Expect PennyMac Mortgage Investment Trust (PMT) Will Post Earnings of $0.34 Per Share

Brokerages predict that PennyMac Mortgage Investment Trust (NYSE:PMT) will report earnings per share (EPS) of $0.34 for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings. PennyMac Mortgage Investment Trust posted earnings of $0.44 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 22.7%. The company is expected to issue its next quarterly earnings results on Thursday, February 1st.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year earnings of $1.32 per share for the current year, with EPS estimates ranging from $1.31 to $1.32. For the next year, analysts anticipate that the business will report earnings of $1.63 per share, with EPS estimates ranging from $1.56 to $1.69. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.18). The business had revenue of $75.80 million during the quarter, compared to the consensus estimate of $81.72 million. PennyMac Mortgage Investment Trust had a net margin of 36.07% and a return on equity of 7.59%. The business’s revenue was down 26.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 EPS.

PMT has been the topic of a number of analyst reports. Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. ValuEngine cut shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Keefe, Bruyette & Woods cut shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $19.00 to $18.00 in a research note on Tuesday, October 10th. Finally, BidaskClub raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $18.50.

In other PennyMac Mortgage Investment Trust news, insider David Spector sold 18,750 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $17.61, for a total transaction of $330,187.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 75,000 shares of company stock worth $1,299,563 over the last ninety days. Insiders own 2.08% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in PennyMac Mortgage Investment Trust by 0.3% during the second quarter. BlackRock Inc. now owns 6,319,656 shares of the real estate investment trust’s stock worth $115,585,000 after buying an additional 17,300 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 0.9% during the second quarter. Vanguard Group Inc. now owns 5,236,924 shares of the real estate investment trust’s stock valued at $95,783,000 after purchasing an additional 49,187 shares during the last quarter. Thornburg Investment Management Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 0.8% during the third quarter. Thornburg Investment Management Inc. now owns 2,176,261 shares of the real estate investment trust’s stock valued at $37,845,000 after purchasing an additional 16,844 shares during the last quarter. LSV Asset Management grew its stake in shares of PennyMac Mortgage Investment Trust by 0.5% during the second quarter. LSV Asset Management now owns 1,676,536 shares of the real estate investment trust’s stock valued at $30,663,000 after purchasing an additional 8,500 shares during the last quarter. Finally, State Street Corp grew its stake in shares of PennyMac Mortgage Investment Trust by 2.6% during the second quarter. State Street Corp now owns 1,479,887 shares of the real estate investment trust’s stock valued at $27,065,000 after purchasing an additional 37,565 shares during the last quarter. 62.97% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust (NYSE PMT) traded up $0.06 during midday trading on Friday, reaching $15.74. 749,844 shares of the company were exchanged, compared to its average volume of 657,279. The company has a market capitalization of $1,030.00, a PE ratio of 11.03 and a beta of 0.54. PennyMac Mortgage Investment Trust has a twelve month low of $14.87 and a twelve month high of $18.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 0.78.

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PennyMac Mortgage Investment Trust Company Profile

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. (its Operating Partnership) and its subsidiaries.

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Earnings History and Estimates for PennyMac Mortgage Investment Trust (NYSE:PMT)

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