Walter Investment Management Corp. (NYSE:WAC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Analyst Ratings Network.com reports. They currently have a $45.90 target price on the stock. Zacks‘ price objective indicates a potential upside of 9.83% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley initiated coverage on shares of Walter Investment Management Corp. in a research note to investors on Wednesday, July 10th. They set an “overweight” rating and a $43.00 price target on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Walter Investment Management Corp. in a research note to investors on Thursday, June 27th. They set a “buy” rating and a $40.00 price target on the stock. Finally, analysts at Wells Fargo & Co. upgraded shares of Walter Investment Management Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, June 4th.
One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $43.74.
Shares of Walter Investment Management Corp. (NYSE:WAC) traded down 1.91% during mid-day trading on Thursday, hitting $40.99. Walter Investment Management Corp. has a one year low of $23.14 and a one year high of $49.99. The stock’s 50-day moving average is currently $36.51. The company has a market cap of $1.512 billion and a P/E ratio of 13930.00.
Walter Investment Management Corp. (NYSE:WAC) last released its earnings data on Thursday, August 8th. The company reported $4.75 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.03 by $3.72. The company had revenue of $569.20 million for the quarter, compared to the consensus estimate of $374.77 million. The company’s quarterly revenue was up 277.2% on a year-over-year basis. On average, analysts predict that Walter Investment Management Corp. will post $5.20 earnings per share for the current fiscal year.
Walter Investment Management Corp., together with its subsidiaries, is a fee-based business services provider to the residential mortgage industry.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.