Western Asset Mortgage Capital Corp (NYSE:WMC) Expected to Announce Earnings of $0.30 Per Share

Wall Street analysts predict that Western Asset Mortgage Capital Corp (NYSE:WMC) will post earnings of $0.30 per share for the current quarter, Zacks reports. Zero analysts have provided estimates for Western Asset Mortgage Capital’s earnings. Western Asset Mortgage Capital posted earnings of $0.34 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.8%. The business is scheduled to announce its next quarterly earnings results on Tuesday, March 3rd.

According to Zacks, analysts expect that Western Asset Mortgage Capital will report full year earnings of $1.21 per share for the current fiscal year. For the next fiscal year, analysts forecast that the firm will post earnings of $1.24 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Western Asset Mortgage Capital.

Western Asset Mortgage Capital (NYSE:WMC) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.03). The firm had revenue of $16.57 million for the quarter, compared to analysts’ expectations of $20.95 million. Western Asset Mortgage Capital had a net margin of 18.47% and a return on equity of 11.66%. During the same period in the previous year, the company posted $0.33 earnings per share.

Several analysts have commented on WMC shares. Bank of America decreased their price target on shares of Western Asset Mortgage Capital from $10.75 to $10.50 and set a “buy” rating for the company in a research report on Monday, September 23rd. Zacks Investment Research upgraded shares of Western Asset Mortgage Capital from a “sell” rating to a “hold” rating in a report on Friday. Finally, ValuEngine upgraded shares of Western Asset Mortgage Capital from a “sell” rating to a “hold” rating in a report on Thursday, October 10th.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can increased its holdings in shares of Western Asset Mortgage Capital by 1,481.5% during the second quarter. Bank of Montreal Can now owns 4,270 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 4,000 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Western Asset Mortgage Capital in the 2nd quarter worth approximately $76,000. Deprince Race & Zollo Inc. acquired a new position in Western Asset Mortgage Capital in the 2nd quarter worth approximately $100,000. CAPROCK Group Inc. acquired a new position in Western Asset Mortgage Capital in the 3rd quarter worth approximately $116,000. Finally, Strs Ohio increased its holdings in Western Asset Mortgage Capital by 11.9% in the 3rd quarter. Strs Ohio now owns 14,100 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,500 shares during the period. Hedge funds and other institutional investors own 47.63% of the company’s stock.

Shares of WMC stock remained flat at $$10.13 during mid-day trading on Friday. 352,200 shares of the company’s stock traded hands, compared to its average volume of 348,521. The stock has a market capitalization of $542.36 million, a PE ratio of 7.45 and a beta of 0.76. The stock’s 50-day moving average price is $9.96 and its two-hundred day moving average price is $9.93. Western Asset Mortgage Capital has a 1-year low of $8.26 and a 1-year high of $10.66. The company has a debt-to-equity ratio of 8.05, a quick ratio of 709.60 and a current ratio of 709.60.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 30th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, September 27th. This represents a $1.24 annualized dividend and a dividend yield of 12.24%. Western Asset Mortgage Capital’s dividend payout ratio (DPR) is currently 91.18%.

About Western Asset Mortgage Capital

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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