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

Equities analysts expect PennyMac Mortgage Investment Trust (NYSE:PMT) to post earnings per share (EPS) of $0.34 for the current quarter, Zacks reports. Zero analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings. PennyMac Mortgage Investment Trust posted earnings per share of $0.44 in the same quarter last year, which would indicate a negative year over year growth rate of 22.7%. The firm is scheduled to announce its next earnings report after the market closes on Thursday, February 8th.

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 fiscal year, analysts forecast that the company will report earnings of $1.63 per share, with EPS estimates ranging from $1.56 to $1.69. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The firm had revenue of $93.70 million during the quarter, compared to analysts’ expectations of $80.43 million. PennyMac Mortgage Investment Trust had a net margin of 36.07% and a return on equity of 7.59%. PennyMac Mortgage Investment Trust’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share.

A number of research firms have issued reports on PMT. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. ValuEngine upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $18.50.

PennyMac Mortgage Investment Trust (NYSE PMT) opened at $16.01 on Friday. The stock has a market cap of $1,052.37, a PE ratio of 11.27 and a beta of 0.49. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.46. PennyMac Mortgage Investment Trust has a 1-year low of $14.87 and a 1-year high of $18.46.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, December 29th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.88 annualized dividend and a dividend yield of 11.74%. PennyMac Mortgage Investment Trust’s payout ratio is currently 132.39%.

PennyMac Mortgage Investment Trust declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 20th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 34.9% during the 3rd quarter. SG Americas Securities LLC now owns 52,504 shares of the real estate investment trust’s stock worth $913,000 after acquiring an additional 13,596 shares during the period. BlackRock Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 0.3% during the 2nd quarter. BlackRock Inc. now owns 6,319,656 shares of the real estate investment trust’s stock worth $115,585,000 after acquiring an additional 17,300 shares during the period. Stifel Financial Corp lifted its holdings in shares of PennyMac Mortgage Investment Trust by 10.3% during the 3rd quarter. Stifel Financial Corp now owns 116,333 shares of the real estate investment trust’s stock worth $2,023,000 after acquiring an additional 10,864 shares during the period. Magnetar Financial LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 197.9% during the 3rd quarter. Magnetar Financial LLC now owns 35,905 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 23,851 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,236,924 shares of the real estate investment trust’s stock worth $95,783,000 after acquiring an additional 49,187 shares during the period. Institutional investors and hedge funds own 62.25% of the company’s stock.

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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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