PennyMac Financial Services Inc (NYSE:PFSI) to Post Q3 2019 Earnings of $0.79 Per Share, Piper Jaffray Companies Forecasts

PennyMac Financial Services Inc (NYSE:PFSI) – Equities researchers at Piper Jaffray Companies lifted their Q3 2019 earnings per share (EPS) estimates for shares of PennyMac Financial Services in a research note issued on Thursday, May 2nd, according to Zacks Investment Research. Piper Jaffray Companies analyst K. Barker now forecasts that the real estate investment trust will post earnings per share of $0.79 for the quarter, up from their previous estimate of $0.72. Piper Jaffray Companies also issued estimates for PennyMac Financial Services’ Q4 2019 earnings at $0.87 EPS, FY2019 earnings at $3.15 EPS, Q1 2020 earnings at $0.89 EPS, Q2 2020 earnings at $0.81 EPS, Q3 2020 earnings at $0.86 EPS, Q4 2020 earnings at $0.91 EPS and FY2020 earnings at $3.47 EPS.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.04). The company had revenue of $247.71 million during the quarter, compared to the consensus estimate of $246.88 million. PennyMac Financial Services had a net margin of 11.79% and a return on equity of 6.57%.

Several other analysts have also weighed in on PFSI. JMP Securities reiterated a “hold” rating on shares of PennyMac Financial Services in a research note on Wednesday, March 6th. Wedbush reiterated an “outperform” rating on shares of PennyMac Financial Services in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. PennyMac Financial Services has an average rating of “Buy” and an average target price of $24.00.

Shares of NYSE:PFSI traded down $0.32 during mid-day trading on Monday, hitting $21.65. The company had a trading volume of 160,111 shares, compared to its average volume of 225,910. The firm has a market capitalization of $1.78 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.78 and a beta of 0.43. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.64. PennyMac Financial Services has a one year low of $18.77 and a one year high of $24.50.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc boosted its holdings in PennyMac Financial Services by 2.6% during the 3rd quarter. Vanguard Group Inc now owns 1,900,582 shares of the real estate investment trust’s stock worth $39,722,000 after acquiring an additional 48,802 shares during the last quarter. Vanguard Group Inc. boosted its holdings in PennyMac Financial Services by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,900,582 shares of the real estate investment trust’s stock worth $39,722,000 after acquiring an additional 48,802 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in PennyMac Financial Services by 29.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,009,859 shares of the real estate investment trust’s stock worth $22,460,000 after acquiring an additional 230,980 shares during the last quarter. Bayview Asset Management LLC purchased a new position in PennyMac Financial Services during the 4th quarter worth $16,986,000. Finally, Long Pond Capital LP boosted its holdings in PennyMac Financial Services by 202.8% during the 1st quarter. Long Pond Capital LP now owns 757,000 shares of the real estate investment trust’s stock worth $16,836,000 after acquiring an additional 507,000 shares during the last quarter. 32.08% of the stock is currently owned by hedge funds and other institutional investors.

In other PennyMac Financial Services news, insider Anne Mccallion sold 3,463 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $22.25, for a total transaction of $77,051.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stanford L. Kurland sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $22.63, for a total transaction of $135,780.00. The disclosure for this sale can be found here. Insiders have sold a total of 106,203 shares of company stock valued at $2,410,204 in the last 90 days. 22.17% of the stock is currently owned by company 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. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

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Earnings History and Estimates for PennyMac Financial Services (NYSE:PFSI)

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