$116.95 Million in Sales Expected for PennyMac Mortgage Investment Trust (NYSE:PMT) This Quarter

Wall Street analysts expect that PennyMac Mortgage Investment Trust (NYSE:PMT) will report sales of $116.95 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for PennyMac Mortgage Investment Trust’s earnings, with the lowest sales estimate coming in at $114.90 million and the highest estimate coming in at $119.00 million. PennyMac Mortgage Investment Trust reported sales of $108.50 million during the same quarter last year, which indicates a positive year over year growth rate of 7.8%. The firm is scheduled to issue its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that PennyMac Mortgage Investment Trust will report full-year sales of $438.15 million for the current fiscal year, with estimates ranging from $433.30 million to $443.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $510.10 million, with estimates ranging from $450.20 million to $570.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.03%. The business had revenue of $96.40 million for the quarter, compared to analyst estimates of $104.95 million. During the same quarter in the prior year, the company posted $0.70 earnings per share.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a report on Wednesday, July 31st. Wedbush reiterated a “neutral” rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. PennyMac Mortgage Investment Trust currently has a consensus rating of “Buy” and a consensus target price of $22.57.

PMT traded down $0.01 on Thursday, hitting $22.14. 2,109,633 shares of the company were exchanged, compared to its average volume of 712,612. PennyMac Mortgage Investment Trust has a 12 month low of $17.88 and a 12 month high of $22.62. The company has a market cap of $1.74 billion, a PE ratio of 11.13, a PEG ratio of 1.97 and a beta of 0.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s fifty day moving average is $21.96 and its 200-day moving average is $21.45.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its holdings in PennyMac Mortgage Investment Trust by 69.6% during the second quarter. Mackenzie Financial Corp now owns 34,065 shares of the real estate investment trust’s stock worth $744,000 after acquiring an additional 13,979 shares in the last quarter. BlackRock Inc. raised its holdings in PennyMac Mortgage Investment Trust by 15.4% during the second quarter. BlackRock Inc. now owns 12,767,858 shares of the real estate investment trust’s stock worth $278,723,000 after acquiring an additional 1,705,455 shares in the last quarter. Royal Bank of Canada increased its position in PennyMac Mortgage Investment Trust by 157.1% during the second quarter. Royal Bank of Canada now owns 123,459 shares of the real estate investment trust’s stock worth $2,695,000 after buying an additional 75,432 shares during the last quarter. UBS Group AG increased its position in PennyMac Mortgage Investment Trust by 20.9% during the second quarter. UBS Group AG now owns 2,026,356 shares of the real estate investment trust’s stock worth $44,235,000 after buying an additional 349,819 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in PennyMac Mortgage Investment Trust during the second quarter worth approximately $270,000. Institutional investors and hedge funds own 71.22% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

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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Earnings History and Estimates for PennyMac Mortgage Investment Trust (NYSE:PMT)

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