PennyMac Financial Services (PFSI) Announces Earnings Results

PennyMac Financial Services (NYSE:PFSI) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02), Briefing.com reports. The company had revenue of $298.63 million during the quarter, compared to analysts’ expectations of $238.86 million. PennyMac Financial Services had a return on equity of 4.11% and a net margin of 6.47%. PennyMac Financial Services’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $1.00 earnings per share.

Shares of PennyMac Financial Services (PFSI) traded up $0.65 during mid-day trading on Friday, hitting $21.95. The stock had a trading volume of 309,675 shares, compared to its average volume of 220,176. The company has a market cap of $526.79, a price-to-earnings ratio of 5.39, a P/E/G ratio of 1.36 and a beta of 0.64. PennyMac Financial Services has a 12-month low of $15.65 and a 12-month high of $24.00. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.66.

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Zacks Investment Research raised PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Saturday, January 6th. Barclays set a $25.00 price target on PennyMac Financial Services and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, ValuEngine raised PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $23.50.

In other news, insider Anne Mccallion sold 5,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $19.76, for a total value of $98,800.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Doug Jones sold 15,000 shares of PennyMac Financial Services stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $21.95, for a total value of $329,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 271,360 shares of company stock worth $5,923,617. Corporate insiders own 45.64% of the company’s stock.

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About PennyMac Financial Services

PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.

Earnings History for PennyMac Financial Services (NYSE:PFSI)

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