PennyMac Financial Services (PFSI) Set to Announce Earnings on Wednesday

PennyMac Financial Services (NYSE:PFSI) is set to issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $2.34 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.75. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. The firm had revenue of $361.94 million for the quarter, compared to analyst estimates of $413.35 million. On average, analysts expect PennyMac Financial Services to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

PennyMac Financial Services Trading Up 2.8 %

Shares of PFSI opened at $90.46 on Tuesday. PennyMac Financial Services has a 12-month low of $56.16 and a 12-month high of $94.78. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 0.58 and a beta of 1.67. The stock’s 50-day moving average price is $87.74 and its 200 day moving average price is $82.64.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, February 12th. This represents a $0.80 annualized dividend and a yield of 0.88%. PennyMac Financial Services’s dividend payout ratio is 29.52%.

Insider Buying and Selling

In related news, insider James Follette sold 2,617 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the sale, the insider now directly owns 7,257 shares in the company, valued at approximately $625,843.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider James Follette sold 2,617 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the sale, the insider now directly owns 7,257 shares in the company, valued at approximately $625,843.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total value of $907,200.00. Following the sale, the chief executive officer now owns 250,604 shares in the company, valued at $22,734,794.88. The disclosure for this sale can be found here. Insiders have sold a total of 87,802 shares of company stock worth $7,666,108 in the last three months. Insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

PFSI has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on PennyMac Financial Services in a research note on Wednesday, January 10th. They set a “buy” rating and a $115.00 price target on the stock. Barclays upped their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Wedbush upped their price objective on PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, January 2nd. StockNews.com upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $100.00 to $105.00 in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.13.

About PennyMac Financial Services

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