UWM Holdings Co. (NYSE:UWMC) to Issue $0.10 Quarterly Dividend

UWM Holdings Co. (NYSE:UWMC) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Thursday, March 20th will be given a dividend of 0.10 per share on Thursday, April 10th. This represents a $0.40 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date is Thursday, March 20th.

UWM has a dividend payout ratio of 70.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect UWM to earn $0.46 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 87.0%.

UWM Trading Down 2.0 %

UWMC traded down $0.13 during trading hours on Thursday, reaching $6.08. The company’s stock had a trading volume of 4,523,032 shares, compared to its average volume of 3,405,592. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The business’s 50-day moving average is $6.06 and its 200-day moving average is $7.01. UWM has a fifty-two week low of $5.31 and a fifty-two week high of $9.74. The stock has a market cap of $9.71 billion, a PE ratio of -26.41 and a beta of 1.66.

UWM (NYSE:UWMC) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $560.21 million during the quarter, compared to the consensus estimate of $645.75 million. As a group, equities research analysts predict that UWM will post 0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on UWMC shares. The Goldman Sachs Group decreased their price target on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Keefe, Bruyette & Woods cut their price objective on UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. Finally, Morgan Stanley cut their price objective on UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.39.

UWM Company Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.