UWM Holdings Co. (NYSE: UWMC – Get a rating) – Wedbush dropped its full-year 2023 earnings per share (EPS) estimates for UWM in a research report released to clients and investors on Friday, June 17. Wedbush analyst H. Coffey now expects the company to post earnings per share of $0.41 for the year, down from its previous forecast of $0.50. Wedbush has a “Neutral” rating and a price target of $5.00 on the stock. The consensus estimate of UWM’s current annual earnings is $0.20 per share.
A number of other analysts have also recently weighed in on the stock. BTIG Research began covering UWM shares in a report on Wednesday, April 20. They set a “neutral” rating on the stock. Barclays lowered its price target on UWM shares from $7.00 to $5.00 and set an “equal weight” rating on the stock in a Thursday, March 3 research note. Goldman Sachs Group lowered its price target on UWM shares from $5.25 to $4.60 and set a “neutral” rating on the stock in a Monday, April 4 report. Argus downgraded UWM’s shares from a “buy” rating to a “hold” rating in a Thursday, June 2 research report. Finally, Credit Suisse Group lowered its price target on UWM shares to $4.00 and set a “neutral” rating for the company in a Thursday, May 19 research note. One equity research analyst has assigned the stock a sell rating, ten have assigned a hold rating and one has assigned the company’s stock a buy rating. According to data from MarketBeat.com, UWM currently has an average rating of “Hold” and an average price target of $5.56.
NYSE UWMC opened at $3.22 on Monday. The company has a 50-day simple moving average of $3.82 and a 200-day simple moving average of $4.70. The company has a debt ratio of 0.64, a quick ratio of 1.85 and a current ratio of 1.85. UWM has a 1-year low of $3.14 and a 1-year high of $10.02. The company has a market capitalization of $297.95 million, a price-earnings ratio of 5.75 and a beta of 1.01. UWM (NYSE: UWMC- Get a rating) last reported quarterly earnings data on Tuesday, May 10. The company reported EPS of $0.43 for the quarter, beating analyst consensus estimates of $0.08 by $0.35. UWM had a return on equity of 13.31% and a net margin of 2.78%. The company posted revenue of $821.79 million for the quarter, versus a consensus estimate of $526.47 million. In the same quarter last year, the company posted earnings per share of $0.71.
A number of hedge funds have recently changed their positions in UWMC. Captrust Financial Advisors bought a new position in UWM stock in the third quarter worth about $32,000. Allegheny Financial Group LTD acquired a new stake in UWM in Q4 worth $30,000. WealthPLAN Partners LLC acquired a new stake in UWM in Q4 valued at $52,000. Baker Tilly Wealth Management LLC acquired a new position in UWM stock during Q1 worth approximately $48,000. Finally, SG Americas Securities LLC acquired a new position in UWM shares during the 1st quarter for a value of approximately $52,000. 33.06% of the shares are currently held by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 11. Shareholders of record on Tuesday, June 21 will receive a dividend of $0.10. This represents a dividend of $0.40 on an annualized basis and a dividend yield of 12.42%. The ex-dividend date is Friday, June 17. UWM’s dividend payout ratio is 71.43%.
About UWM (Get a rating)
UWM Holdings Corporation is engaged in residential mortgage lending business in the United States. The company issues mortgages through the wholesale channel. It is primarily the originator of conforming loans and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.
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