Nationstar Mortgage (NSM) Cut to “Hold” at Zacks Investment Research
Nationstar Mortgage (NYSE:NSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Nationstar Mortgage Holdings, Inc. is a mortgage lender. It services loans throughout the United States and originates primarily conventional agency and government residential mortgage loans and also offers a diverse array of complementary services for mortgage investors. Nationstar Mortgage Holdings, Inc. is headquartered in Lewisville, Texas. “
A number of other equities analysts have also recently commented on NSM. ValuEngine upgraded Nationstar Mortgage from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $20.00 price target on shares of Nationstar Mortgage in a report on Thursday, October 26th. Finally, Piper Jaffray Companies upgraded Nationstar Mortgage from an “underweight” rating to a “neutral” rating in a report on Tuesday, November 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.78.
Nationstar Mortgage (NYSE:NSM) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Nationstar Mortgage had a return on equity of 8.88% and a net margin of 9.34%. The business had revenue of $406.00 million during the quarter, compared to analysts’ expectations of $481.67 million. During the same quarter last year, the company posted $0.52 earnings per share. research analysts expect that Nationstar Mortgage will post 1.5 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Convergence Investment Partners LLC boosted its holdings in shares of Nationstar Mortgage by 6.9% during the fourth quarter. Convergence Investment Partners LLC now owns 81,730 shares of the financial services provider’s stock worth $1,512,000 after acquiring an additional 5,310 shares during the period. Rubric Capital Management LP boosted its holdings in shares of Nationstar Mortgage by 14.8% during the third quarter. Rubric Capital Management LP now owns 923,774 shares of the financial services provider’s stock worth $17,154,000 after acquiring an additional 119,137 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Nationstar Mortgage during the third quarter worth approximately $486,000. Engineers Gate Manager LP bought a new stake in shares of Nationstar Mortgage during the third quarter worth approximately $227,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Nationstar Mortgage by 44.4% during the third quarter. Dimensional Fund Advisors LP now owns 895,132 shares of the financial services provider’s stock worth $16,622,000 after acquiring an additional 275,248 shares during the period. Institutional investors and hedge funds own 98.42% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/17/nationstar-mortgage-nsm-cut-to-hold-at-zacks-investment-research.html.
About Nationstar Mortgage
Nationstar Mortgage Holdings Inc provides servicing, origination and transaction based services principally to single-family residences throughout the United States. The Company operates through three segments: Servicing, Originations and Xome. The Company provides residential loan services in the United States.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nationstar Mortgage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nationstar Mortgage and related companies with MarketBeat.com's FREE daily email newsletter.