$0.42 Earnings Per Share Expected for PennyMac Mortgage Investment Trust (PMT) This Quarter

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Wall Street analysts expect PennyMac Mortgage Investment Trust (NYSE:PMT) to report earnings per share (EPS) of $0.42 for the current quarter, Zacks reports. Three analysts have issued estimates for PennyMac Mortgage Investment Trust’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.43. PennyMac Mortgage Investment Trust posted earnings per share of $0.35 during the same quarter last year, which indicates a positive year-over-year growth rate of 20%. The business is scheduled to issue its next earnings results on Thursday, May 2nd.

According to Zacks, analysts expect that PennyMac Mortgage Investment Trust will report full-year earnings of $1.80 per share for the current fiscal year, with EPS estimates ranging from $1.73 to $1.93. For the next financial year, analysts forecast that the company will post earnings of $1.94 per share, with EPS estimates ranging from $1.88 to $2.00. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Thursday, February 7th. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. PennyMac Mortgage Investment Trust had a return on equity of 12.19% and a net margin of 43.52%. The company had revenue of $83.90 million for the quarter, compared to analyst estimates of $138.40 million. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year.

A number of research analysts recently weighed in on PMT shares. Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Nomura started coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, March 27th. They set a “buy” rating and a $23.00 price target on the stock. Barclays set a $21.00 price target on PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a research note on Thursday, March 7th. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $22.00 to $23.00 in a research note on Sunday, February 24th. Finally, ValuEngine downgraded PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $21.86.

Shares of PennyMac Mortgage Investment Trust stock traded down $0.06 on Wednesday, hitting $20.79. 428,942 shares of the company’s stock traded hands, compared to its average volume of 601,205. PennyMac Mortgage Investment Trust has a one year low of $17.29 and a one year high of $21.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 2.31 and a beta of 0.60.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 15th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 9.04%. The ex-dividend date is Friday, April 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 94.47%.

In other news, CEO David Spector sold 35,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $20.61, for a total value of $721,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott W. Carnahan sold 5,721 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $20.75, for a total value of $118,710.75. The disclosure for this sale can be found here. 2.46% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of PennyMac Mortgage Investment Trust by 69.1% in the fourth quarter. Bank of Montreal Can now owns 1,461 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 597 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $59,000. Meeder Asset Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $85,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of PennyMac Mortgage Investment Trust by 35,193.8% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 5,647 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 5,631 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of PennyMac Mortgage Investment Trust by 1,138.8% in the third quarter. Tower Research Capital LLC TRC now owns 6,677 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 6,138 shares during the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

About PennyMac Mortgage Investment Trust

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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