loanDepot (NYSE:LDI) Issues Earnings Results, Beats Expectations By $0.41 EPS

loanDepot (NYSE:LDI) issued its quarterly earnings data on Monday. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.41, Briefing.com reports. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.02 billion. loanDepot’s quarterly revenue was up 170.7% on a year-over-year basis.

NYSE:LDI traded down $0.69 during trading hours on Tuesday, reaching $18.37. The company had a trading volume of 711 shares, compared to its average volume of 692,620. loanDepot has a 52 week low of $14.00 and a 52 week high of $39.85. The company’s 50 day simple moving average is $20.48.

The business also recently announced a dividend, which will be paid on Tuesday, May 18th. Shareholders of record on Monday, May 3rd will be given a $0.612 dividend. The ex-dividend date of this dividend is Friday, April 30th.

Several equities analysts recently commented on LDI shares. UBS Group started coverage on loanDepot in a research note on Monday, March 15th. They issued a “neutral” rating and a $20.00 price objective on the stock. The Goldman Sachs Group started coverage on loanDepot in a research note on Monday, March 15th. They issued a “neutral” rating and a $22.00 price objective on the stock. Citigroup assumed coverage on loanDepot in a research note on Monday, March 15th. They issued a “buy” rating and a $25.00 price objective on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on loanDepot in a research report on Monday, March 15th. They set a “buy” rating and a $25.00 target price on the stock. Finally, JMP Securities initiated coverage on shares of loanDepot in a report on Monday, March 15th. They issued an “outperform” rating and a $25.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $23.67.

About loanDepot

loanDepot, Inc engages in the origination and servicing of conventional and government mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, home equity, Federal Housing Administration, and VA loans. The company also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.

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