PennyMac Financial Services (PFSI) Set to Announce Quarterly Earnings on Tuesday

PennyMac Financial Services (NYSE:PFSI) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, October 22nd. Analysts expect PennyMac Financial Services to post earnings of $2.92 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The firm had revenue of $406.13 million during the quarter, compared to analyst estimates of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 earnings per share. On average, analysts expect PennyMac Financial Services to post $11 EPS for the current fiscal year and $14 EPS for the next fiscal year.

PennyMac Financial Services Stock Down 1.3 %

Shares of PFSI stock opened at $109.32 on Monday. The stock’s 50-day simple moving average is $107.36 and its 200-day simple moving average is $97.80. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $5.57 billion, a PE ratio of 37.96, a P/E/G ratio of 0.66 and a beta of 1.77. PennyMac Financial Services has a fifty-two week low of $62.15 and a fifty-two week high of $119.13.

PennyMac Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.10%. PennyMac Financial Services’s dividend payout ratio is currently 41.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler raised their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Wedbush raised their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a report on Monday, July 22nd. Finally, StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $111.50.

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the transaction, the director now owns 105,446 shares in the company, valued at approximately $10,325,272.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Joseph F. Mazzella sold 11,396 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total value of $1,115,896.32. Following the transaction, the director now owns 105,446 shares in the company, valued at $10,325,272.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $107.57, for a total value of $1,075,700.00. Following the completion of the transaction, the chief executive officer now owns 190,604 shares in the company, valued at approximately $20,503,272.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,855 shares of company stock worth $9,647,599. 16.60% of the stock is owned by corporate insiders.

About PennyMac Financial Services

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