Zacks: Analysts Expect Western Asset Mortgage Capital Corp (NYSE:WMC) Will Announce Earnings of $0.32 Per Share

Brokerages predict that Western Asset Mortgage Capital Corp (NYSE:WMC) will report earnings per share of $0.32 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Western Asset Mortgage Capital’s earnings. Western Asset Mortgage Capital reported earnings per share of $0.36 in the same quarter last year, which would suggest a negative year-over-year growth rate of 11.1%. The firm is expected to announce its next quarterly earnings results after the market closes on Tuesday, August 6th.

According to Zacks, analysts expect that Western Asset Mortgage Capital will report full-year earnings of $1.28 per share for the current financial year. For the next year, analysts forecast that the business will report earnings of $1.29 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Western Asset Mortgage Capital.

Western Asset Mortgage Capital (NYSE:WMC) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $0.32 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.32. The business had revenue of $15.63 million during the quarter, compared to analysts’ expectations of $20.90 million. Western Asset Mortgage Capital had a net margin of 13.99% and a return on equity of 11.99%. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share.

Separately, Zacks Investment Research cut shares of Western Asset Mortgage Capital from a “hold” rating to a “sell” rating in a report on Sunday, July 14th.

NYSE:WMC traded down $0.12 during mid-day trading on Wednesday, hitting $10.16. The stock had a trading volume of 376,200 shares, compared to its average volume of 355,311. The firm’s 50-day simple moving average is $9.98. The company has a market capitalization of $543.64 million, a P/E ratio of 7.47 and a beta of 0.79. Western Asset Mortgage Capital has a twelve month low of $8.26 and a twelve month high of $11.38. The company has a quick ratio of 700.59, a current ratio of 700.59 and a debt-to-equity ratio of 7.51.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Monday, July 1st were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.24 dividend on an annualized basis and a yield of 12.20%. Western Asset Mortgage Capital’s payout ratio is currently 91.18%.

In related news, CIO Harris Trifon acquired 3,500 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average price of $10.05 per share, with a total value of $35,175.00. Following the completion of the acquisition, the executive now owns 6,003 shares in the company, valued at $60,330.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer Murphy acquired 10,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $9.98 per share, for a total transaction of $99,800.00. Following the acquisition, the director now owns 85,000 shares of the company’s stock, valued at approximately $848,300. The disclosure for this purchase can be found here. 0.49% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in WMC. Municipal Employees Retirement System of Michigan acquired a new position in shares of Western Asset Mortgage Capital in the 2nd quarter valued at $408,000. First Trust Advisors LP increased its holdings in shares of Western Asset Mortgage Capital by 9.9% in the 2nd quarter. First Trust Advisors LP now owns 96,373 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 8,663 shares during the period. Systematic Financial Management LP acquired a new position in shares of Western Asset Mortgage Capital in the 2nd quarter valued at $935,000. Creative Planning increased its holdings in shares of Western Asset Mortgage Capital by 1.3% in the 2nd quarter. Creative Planning now owns 80,458 shares of the financial services provider’s stock valued at $803,000 after acquiring an additional 995 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Western Asset Mortgage Capital in the 2nd quarter valued at $76,000. 42.15% of the stock is currently owned by institutional investors.

Western Asset Mortgage Capital Company Profile

Western Asset Mortgage Capital Corporation operates as a real estate investment trust in the United States. It focuses on investing in, financing, and managing a portfolio of agency and non-agency residential mortgage-backed securities and commercial mortgage-backed securities, residential whole-loans, residential bridge loans, securitized commercial loans, and other financial assets.

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