Zacks: Brokerages Anticipate PennyMac Mortgage Investment Trust (NYSE:PMT) Will Announce Earnings of $2.92 Per Share

Equities analysts predict that PennyMac Mortgage Investment Trust (NYSE:PMT) will report $2.92 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $6.20. PennyMac Mortgage Investment Trust reported earnings per share of $0.50 during the same quarter last year, which suggests a positive year-over-year growth rate of 484%. The business is scheduled to announce its next earnings results on Thursday, August 6th.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year earnings of ($1.81) per share for the current fiscal year, with EPS estimates ranging from ($4.78) to $1.89. For the next year, analysts forecast that the firm will report earnings of $2.03 per share, with EPS estimates ranging from $1.67 to $2.35. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($5.99) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.81) by ($3.18). The company had revenue of ($506.52) million for the quarter, compared to the consensus estimate of $133.30 million. PennyMac Mortgage Investment Trust had a negative return on equity of 23.31% and a net margin of 46.31%.

A number of brokerages recently commented on PMT. Deutsche Bank upped their price objective on PennyMac Mortgage Investment Trust from $12.50 to $19.00 in a research note on Tuesday, June 23rd. CSFB increased their price target on PennyMac Mortgage Investment Trust from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. TheStreet cut PennyMac Mortgage Investment Trust from a “c” rating to a “d” rating in a research note on Thursday, May 7th. ValuEngine raised PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Thursday, April 30th. Finally, Zacks Investment Research raised PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 16th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $20.19.

PMT traded up $0.17 during trading on Thursday, reaching $17.56. 423,112 shares of the company were exchanged, compared to its average volume of 1,545,345. The stock has a market cap of $1.76 billion, a P/E ratio of -4.09 and a beta of 1.20. The firm has a 50 day moving average of $15.51 and a 200 day moving average of $16.35. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.44. PennyMac Mortgage Investment Trust has a 52 week low of $3.50 and a 52 week high of $23.79.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 15th will be issued a $0.40 dividend. This is a positive change from PennyMac Mortgage Investment Trust’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $1.60 annualized dividend and a dividend yield of 9.11%. PennyMac Mortgage Investment Trust’s dividend payout ratio is 41.32%.

Institutional investors have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 17.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 117,393 shares of the real estate investment trust’s stock valued at $2,617,000 after buying an additional 17,393 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter valued at $136,000. ProShare Advisors LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 23.3% in the fourth quarter. ProShare Advisors LLC now owns 14,958 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 2,823 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 104.1% in the fourth quarter. Alliancebernstein L.P. now owns 388,200 shares of the real estate investment trust’s stock valued at $8,653,000 after buying an additional 198,016 shares during the period. Finally, Norges Bank acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at $32,099,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

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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Earnings History and Estimates for PennyMac Mortgage Investment Trust (NYSE:PMT)

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