PennyMac Financial Services Inc (NYSE:PFSI) to Post FY2019 Earnings of $4.35 Per Share, Wedbush Forecasts

PennyMac Financial Services Inc (NYSE:PFSI) – Wedbush increased their FY2019 earnings estimates for shares of PennyMac Financial Services in a report released on Tuesday, November 5th. Wedbush analyst H. Coffey now expects that the real estate investment trust will post earnings of $4.35 per share for the year, up from their previous estimate of $3.80. Wedbush also issued estimates for PennyMac Financial Services’ Q4 2019 earnings at $1.34 EPS, Q1 2020 earnings at $1.26 EPS, Q2 2020 earnings at $0.82 EPS, Q3 2020 earnings at $0.98 EPS, Q4 2020 earnings at $0.93 EPS, FY2020 earnings at $4.00 EPS and FY2021 earnings at $4.30 EPS.

A number of other brokerages also recently commented on PFSI. TheStreet upgraded PennyMac Financial Services from a “c+” rating to a “b+” rating in a research report on Wednesday, August 14th. Credit Suisse Group increased their price objective on PennyMac Financial Services from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Barclays reiterated a “buy” rating and set a $37.00 price objective on shares of PennyMac Financial Services in a research report on Friday, October 25th. Zacks Investment Research upgraded PennyMac Financial Services from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, July 17th. Finally, Piper Jaffray Companies increased their price objective on PennyMac Financial Services from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. PennyMac Financial Services has a consensus rating of “Buy” and a consensus target price of $33.40.

Shares of NYSE:PFSI opened at $30.74 on Friday. PennyMac Financial Services has a one year low of $19.28 and a one year high of $33.46. The stock has a fifty day moving average of $31.30 and a 200-day moving average of $26.17. The company has a market capitalization of $2.40 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 0.78 and a beta of 0.36. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.19 and a current ratio of 0.18.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.26. PennyMac Financial Services had a return on equity of 15.84% and a net margin of 22.54%. The company had revenue of $436.35 million during the quarter, compared to the consensus estimate of $368.20 million.

The firm also recently announced a dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.12 dividend. The ex-dividend date is Thursday, November 14th.

In other news, Director Anne Mccallion sold 10,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $31.21, for a total value of $312,100.00. Also, Chairman Stanford L. Kurland sold 45,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $30.71, for a total value of $1,381,950.00. Insiders sold 165,000 shares of company stock valued at $5,012,250 in the last 90 days. Corporate insiders own 22.17% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cavalier Investments LLC acquired a new position in shares of PennyMac Financial Services in the third quarter worth $283,000. Eagle Asset Management Inc. acquired a new position in shares of PennyMac Financial Services in the third quarter worth $5,598,000. Creative Planning acquired a new position in shares of PennyMac Financial Services in the third quarter worth $1,010,000. Russell Investments Group Ltd. acquired a new position in shares of PennyMac Financial Services in the third quarter worth $133,000. Finally, California Public Employees Retirement System increased its stake in shares of PennyMac Financial Services by 16.9% in the third quarter. California Public Employees Retirement System now owns 12,901 shares of the real estate investment trust’s stock worth $392,000 after acquiring an additional 1,863 shares during the last quarter. Institutional investors own 30.44% of the company’s stock.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

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Earnings History and Estimates for PennyMac Financial Services (NYSE:PFSI)

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