Zacks Investment Research cut shares of Nationstar Mortgage (NYSE:NSM) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday.
According to Zacks, “Nationstar Mortgage Holdings, Inc. is a mortgage lender. It services loans throughout the United States and originates primarily conventional agency and government residential mortgage loans and also offers a diverse array of complementary services for mortgage investors. Nationstar Mortgage Holdings, Inc. is headquartered in Lewisville, Texas. “
Several other research analysts have also recently commented on NSM. Barclays reaffirmed a sell rating and issued a $19.00 price target (up from $18.00) on shares of Nationstar Mortgage in a research note on Friday, March 2nd. Piper Jaffray Companies reaffirmed a hold rating and issued a $18.00 price target on shares of Nationstar Mortgage in a research note on Thursday, January 11th. Credit Suisse Group reduced their price target on shares of Nationstar Mortgage from $23.00 to $20.00 and set an outperform rating for the company in a research note on Tuesday, February 20th. Finally, ValuEngine raised shares of Nationstar Mortgage from a buy rating to a strong-buy rating in a research note on Friday, December 1st. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $18.69.
Nationstar Mortgage (NYSE:NSM) last posted its earnings results on Thursday, March 1st. The financial services provider reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. Nationstar Mortgage had a net margin of 1.82% and a return on equity of 9.24%. The firm had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $458.70 million. During the same quarter in the prior year, the firm earned $0.36 EPS. Nationstar Mortgage’s quarterly revenue was down 44.6% on a year-over-year basis. sell-side analysts forecast that Nationstar Mortgage will post 2.15 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP acquired a new stake in Nationstar Mortgage during the third quarter valued at approximately $227,000. Ramsey Quantitative Systems acquired a new stake in Nationstar Mortgage during the fourth quarter valued at approximately $230,000. MetLife Investment Advisors LLC acquired a new stake in Nationstar Mortgage during the fourth quarter valued at approximately $244,000. Paloma Partners Management Co acquired a new stake in Nationstar Mortgage during the fourth quarter valued at approximately $297,000. Finally, Voya Investment Management LLC lifted its stake in Nationstar Mortgage by 14.7% during the second quarter. Voya Investment Management LLC now owns 16,775 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 2,156 shares during the last quarter. 98.79% of the stock is owned by institutional investors and hedge funds.
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Nationstar Mortgage Company Profile
Nationstar Mortgage Holdings Inc provides servicing, origination and transaction based services principally to single-family residences throughout the United States. The Company operates through three segments: Servicing, Originations and Xome. The Company provides residential loan services in the United States.
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