PennyMac Mortgage Investment Trust (NYSE: PMT) Expected to Report Quarterly Sales of $ 147.05 Million
Equity research analysts predict that PennyMac Mortgage Investment Trust (NYSE: PMT) will report $ 147.05 million in sales for the current quarter, according to Zacks Investment Research. Two analysts put PennyMac Mortgage Investment Trust earnings as the lowest sales estimate at $ 136.10 million and the highest estimate at $ 158.00 million. PennyMac Mortgage Investment Trust reported sales of $ 196.53 million in the same quarter last year, suggesting a negative year-over-year growth rate of 25.2%. The company is expected to release its next quarterly results on Thursday, February 3.
According to Zacks, analysts expect PennyMac Mortgage Investment Trust to report annual revenue of $ 517.50 million for the current fiscal year, with estimates ranging from $ 507.00 million to $ 528. 00 million dollars. For the next fiscal year, analysts predict the company will post sales of $ 567.15 million, with estimates ranging from $ 541.30 million to $ 593.00 million. Zacks’ sales averages are an average based on a survey of seller-side research companies that cover PennyMac Mortgage Investment Trust.
PennyMac Mortgage Investment Trust (NYSE: PMT) last released its quarterly results on Thursday, November 4. The REIT reported ($ 0.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of $ 0.53 from ($ 0.98). PennyMac Mortgage Investment Trust had a net margin of 26.51% and a return on equity of 7.49%. In the same quarter of last year, the company made a profit of $ 0.94 per share.
Several research companies have published reports on PMT. Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust’s rating from an “outperformance” rating to a “market performance” rating and lowered their target price for the share from $ 21.00 to 19. $ 75 in a report released on Tuesday, November 9. B. Riley began covering PennyMac Mortgage Investment Trust in a report on Thursday, September 9. They set a “buy” rating and a price target of $ 23.00 for the stock. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “custody” rating in a report released on Tuesday, October 19. Finally, JMP Securities raised its price target on PennyMac Mortgage Investment Trust from $ 20.50 to $ 22.00 and gave the stock a “market outperformance” rating in a report released on Monday, October 18. Five investment analysts gave the stock a conservation rating and two gave the stock a buy rating. According to MarketBeat.com, the stock currently has an average âHoldâ rating and a consensus target price of $ 20.75.
The NYSE PMT opened at $ 17.37 on Wednesday. The stock’s 50-day moving average price is $ 19.55, and its two-hundred-day moving average price is $ 19.72. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt ratio of 0.72. The company has a market cap of $ 1.69 billion, a PE ratio of 13.16 and a beta of 1.11. PennyMac Mortgage Investment Trust has a one-year minimum of $ 16.86 and a one-year maximum of $ 21.53.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 28. Investors of record on Friday October 15 received a dividend of $ 0.47. The ex-dividend date was Thursday, October 14. This represents a dividend of $ 1.88 on an annualized basis and a return of 10.82%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 142.43%.
In other PennyMac Mortgage Investment Trust news, Director Scott W. Carnahan sold 2,250 shares of the company in a transaction that took place on Monday, September 27. The stock was sold at an average price of $ 20.00, for a total trade of $ 45,000.00. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible through this hyperlink. In addition, director Scott W. Carnahan sold 4,796 shares of the company in a transaction that took place on Monday, October 25. The stock was sold for an average price of $ 20.33, for a total value of $ 97,502.68. Disclosure of this sale can be found here. Company insiders own 0.84% ââof the company’s shares.
Several institutional investors and hedge funds have recently bought and sold shares of PMT. Advisory Services Network LLC purchased a new equity stake in PennyMac Mortgage Investment Trust in the second quarter valued at approximately $ 25,000. Moors & Cabot Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust in the third quarter valued at $ 36,000. Samalin Investment Counsel LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the second quarter valued at $ 37,000. IFP Advisors Inc increased its stake in the shares of PennyMac Mortgage Investment Trust by 1,662.6% in the third quarter. IFP Advisors Inc now owns 2,027 shares of the REIT valued at $ 40,000 after purchasing 1,912 additional shares in the last quarter. Finally, SRS Capital Advisors Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust in the second quarter valued at $ 42,000. 68.97% of the shares are held by institutional investors.
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a finance company that invests primarily in residential mortgage loans and mortgage related assets. It operates in the following segments: correspondent production, credit sensitive strategies, interest rate sensitive strategies and corporate activities. The Correspondent Generation segment is engaged in the purchase, pooling and resale of newly issued premium mortgages, either directly or in the form of mortgage backed securities in the capital markets. .
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