PennyMac Financial Services Inc (PFSI) to Post Q4 2018 Earnings of $0.54 Per Share, Piper Jaffray Companies Forecasts

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PennyMac Financial Services Inc (NYSE:PFSI) – Research analysts at Piper Jaffray Companies cut their Q4 2018 earnings per share estimates for PennyMac Financial Services in a research note issued on Friday, November 2nd. Piper Jaffray Companies analyst K. Barker now anticipates that the real estate investment trust will earn $0.54 per share for the quarter, down from their prior estimate of $0.63. Piper Jaffray Companies also issued estimates for PennyMac Financial Services’ Q4 2019 earnings at $0.71 EPS, FY2019 earnings at $2.88 EPS, Q1 2020 earnings at $0.72 EPS, Q2 2020 earnings at $0.82 EPS, Q3 2020 earnings at $0.85 EPS and FY2020 earnings at $3.15 EPS.

A number of other equities research analysts have also issued reports on PFSI. Zacks Investment Research lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Barclays set a $24.00 target price on PennyMac Financial Services and gave the company a “buy” rating in a research note on Wednesday, July 25th. ValuEngine raised PennyMac Financial Services from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Finally, Compass Point reaffirmed a “hold” rating and issued a $23.00 target price on shares of PennyMac Financial Services in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. PennyMac Financial Services presently has an average rating of “Hold” and a consensus target price of $24.60.

PFSI stock opened at $20.80 on Monday. PennyMac Financial Services has a 1 year low of $18.20 and a 1 year high of $25.20. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market capitalization of $500.01 million, a P/E ratio of 9.45, a P/E/G ratio of 0.79 and a beta of 0.68.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, November 1st. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. PennyMac Financial Services had a return on equity of 3.66% and a net margin of 10.78%. The firm had revenue of $250.93 million for the quarter, compared to analyst estimates of $232.08 million.

Several institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. raised its position in shares of PennyMac Financial Services by 126.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,186 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 6,247 shares during the period. Tower Research Capital LLC TRC raised its position in shares of PennyMac Financial Services by 94.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,425 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 6,020 shares during the period. MetLife Investment Advisors LLC raised its position in shares of PennyMac Financial Services by 75.5% in the 2nd quarter. MetLife Investment Advisors LLC now owns 12,814 shares of the real estate investment trust’s stock worth $252,000 after buying an additional 5,514 shares during the period. Assetmark Inc. raised its position in shares of PennyMac Financial Services by 66.0% in the 2nd quarter. Assetmark Inc. now owns 13,301 shares of the real estate investment trust’s stock worth $261,000 after buying an additional 5,289 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of PennyMac Financial Services in the 3rd quarter worth $393,000. 90.40% of the stock is currently owned by institutional investors.

In other PennyMac Financial Services news, Director Matthew Botein sold 10,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $21.12, for a total transaction of $211,200.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anne Mccallion sold 5,000 shares of the stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $21.00, for a total value of $105,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,000 shares of company stock worth $829,150. Corporate insiders own 42.06% of the company’s stock.

PennyMac Financial Services Company Profile

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

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Earnings History and Estimates for PennyMac Financial Services (NYSE:PFSI)

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