loanDepot (NYSE:LDI) Issues Earnings Results

loanDepot (NYSE:LDI) released its earnings results on Sunday. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.41, Briefing.com reports. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.02 billion. The business’s revenue for the quarter was up 170.7% compared to the same quarter last year.

Shares of loanDepot stock traded down $0.52 during trading hours on Tuesday, reaching $18.54. The company’s stock had a trading volume of 712 shares, compared to its average volume of 692,620. loanDepot has a one year low of $14.00 and a one year high of $39.85. The business has a fifty day simple moving average of $20.48.

The firm also recently disclosed a dividend, which will be paid on Tuesday, May 18th. Shareholders of record on Monday, May 3rd will be paid a $0.612 dividend. The ex-dividend date of this dividend is Friday, April 30th.

A number of equities research analysts have issued reports on the stock. Rowe began coverage on shares of loanDepot in a report on Tuesday, March 9th. They set a “buy” rating and a $25.00 price target for the company. Barclays reissued an “equal weight” rating and issued a $21.00 price target (down previously from $25.00) on shares of loanDepot in a report on Tuesday, April 27th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on shares of loanDepot in a research report on Monday, March 15th. They issued a “buy” rating and a $25.00 price objective on the stock. Piper Sandler started coverage on shares of loanDepot in a research note on Monday, March 15th. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, Citigroup started coverage on shares of loanDepot in a report on Monday, March 15th. They issued a “buy” rating and a $25.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.67.

loanDepot Company Profile

loanDepot, Inc engages in the origination and servicing of conventional and government mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, home equity, Federal Housing Administration, and VA loans. The company also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.

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