Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned an average rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $22.79.
Several equities analysts recently issued reports on the stock. Deutsche Bank assumed coverage on shares of PennyMac Mortgage Investment Trust in a report on Friday, October 11th. They set a “buy” rating and a $24.00 price target for the company. Bank of America initiated coverage on shares of PennyMac Mortgage Investment Trust in a report on Monday, September 23rd. They set a “buy” rating and a $23.00 price target for the company. Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Compass Point initiated coverage on shares of PennyMac Mortgage Investment Trust in a research report on Monday, December 2nd. They issued a “neutral” rating and a $22.50 price objective for the company.
In other PennyMac Mortgage Investment Trust news, insider Doug Jones sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $22.91, for a total value of $114,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.45% of the company’s stock.
PMT stock traded down $0.62 during trading on Friday, hitting $22.20. 48,358 shares of the stock traded hands, compared to its average volume of 545,306. PennyMac Mortgage Investment Trust has a one year low of $17.88 and a one year high of $23.35. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 1.93 and a beta of 0.59. The company has a 50 day simple moving average of $22.76 and a 200 day simple moving average of $22.14. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.27.
PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.20. PennyMac Mortgage Investment Trust had a net margin of 50.13% and a return on equity of 13.38%. The firm had revenue of $130.76 million during the quarter, compared to the consensus estimate of $116.95 million. During the same period last year, the firm posted $0.62 EPS. As a group, analysts predict that PennyMac Mortgage Investment Trust will post 2.38 earnings per share for the current fiscal year.
PennyMac Mortgage Investment Trust Company Profile
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).
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