Zacks: Brokerages Expect PennyMac Mortgage Investment Trust (PMT) Will Announce Earnings of $0.40 Per Share

Brokerages forecast that PennyMac Mortgage Investment Trust (NYSE:PMT) will report earnings of $0.40 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings, with estimates ranging from $0.37 to $0.42. PennyMac Mortgage Investment Trust reported earnings of $0.32 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 25%. The company is expected to report its next earnings results on Thursday, February 14th.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full year earnings of $1.63 per share for the current year, with EPS estimates ranging from $1.50 to $1.85. For the next year, analysts expect that the firm will report earnings of $1.75 per share, with EPS estimates ranging from $1.70 to $1.80. Zacks’ EPS calculations are an average based on a survey of analysts that cover PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Thursday, November 1st. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.25. PennyMac Mortgage Investment Trust had a return on equity of 10.64% and a net margin of 40.40%. The firm had revenue of $108.50 million for the quarter, compared to analyst estimates of $121.87 million. During the same quarter in the prior year, the company earned $0.47 EPS. PennyMac Mortgage Investment Trust’s revenue was up 43.1% on a year-over-year basis.

PMT has been the topic of a number of research analyst reports. ValuEngine raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Friday, September 7th. JMP Securities raised their price target on shares of PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the company a “market outperform” rating in a research note on Friday, November 2nd. Credit Suisse Group raised their price target on shares of PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 25th. Finally, Wells Fargo & Co initiated coverage on shares of PennyMac Mortgage Investment Trust in a report on Tuesday, September 18th. They issued a “market perform” rating and a $20.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. PennyMac Mortgage Investment Trust has an average rating of “Buy” and a consensus price target of $20.40.

PMT traded down $0.02 during mid-day trading on Friday, hitting $20.72. 5,521 shares of the stock were exchanged, compared to its average volume of 411,119. PennyMac Mortgage Investment Trust has a 1-year low of $15.44 and a 1-year high of $20.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.54 and a beta of 0.39.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Monday, October 15th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 9.07%. The ex-dividend date of this dividend was Friday, October 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 144.62%.

In other PennyMac Mortgage Investment Trust news, Director Marianne Sullivan bought 3,015 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $60,149.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.46% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of PennyMac Mortgage Investment Trust by 1.7% in the third quarter. Vanguard Group Inc. now owns 5,762,227 shares of the real estate investment trust’s stock valued at $116,628,000 after acquiring an additional 95,374 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of PennyMac Mortgage Investment Trust by 7.3% in the third quarter. Legal & General Group Plc now owns 182,857 shares of the real estate investment trust’s stock valued at $3,693,000 after acquiring an additional 12,442 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 2.7% in the third quarter. Teachers Advisors LLC now owns 118,687 shares of the real estate investment trust’s stock valued at $2,402,000 after acquiring an additional 3,167 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of PennyMac Mortgage Investment Trust by 27.9% in the third quarter. Mackenzie Financial Corp now owns 22,692 shares of the real estate investment trust’s stock valued at $459,000 after acquiring an additional 4,951 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 57.8% in the third quarter. MetLife Investment Advisors LLC now owns 42,179 shares of the real estate investment trust’s stock valued at $854,000 after acquiring an additional 15,452 shares in the last quarter. Institutional investors and hedge funds own 70.43% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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

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