UWM (NYSE:UWMC) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

UWM (NYSE:UWMC) posted its earnings results on Wednesday. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06), reports. The company had revenue of $560.21 million for the quarter, compared to analyst estimates of $645.75 million.

UWM Stock Performance

NYSE UWMC traded down $0.14 during trading on Thursday, hitting $6.07. 2,719,605 shares of the company’s stock traded hands, compared to its average volume of 3,355,642. The business has a 50 day moving average of $6.06 and a 200-day moving average of $7.01. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of -26.37 and a beta of 1.66. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. UWM has a 12-month low of $5.31 and a 12-month high of $9.74.

Analyst Ratings Changes

Several research firms have recently weighed in on UWMC. The Goldman Sachs Group lowered their price objective on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Morgan Stanley lowered their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of UWM from $7.00 to $6.50 and set a “market perform” rating for the company in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.39.

UWM Company Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.