Zacks: Analysts Expect PennyMac Mortgage Investment Trust (NYSE:PMT) to Announce $0.57 EPS

Equities analysts predict that PennyMac Mortgage Investment Trust (NYSE:PMT) will report earnings per share of $0.57 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for PennyMac Mortgage Investment Trust’s earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.52. PennyMac Mortgage Investment Trust reported earnings of $4.51 per share during the same quarter last year, which would suggest a negative year over year growth rate of 87.4%. The business is expected to report its next quarterly earnings report on Thursday, August 5th.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year earnings of $2.35 per share for the current fiscal year, with EPS estimates ranging from $2.29 to $2.45. For the next fiscal year, analysts anticipate that the business will post earnings of $2.17 per share, with EPS estimates ranging from $2.12 to $2.20. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, May 6th. The real estate investment trust reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. PennyMac Mortgage Investment Trust had a net margin of 60.51% and a return on equity of 35.75%.

A number of analysts have commented on the stock. TheStreet upgraded shares of PennyMac Mortgage Investment Trust from a “d+” rating to a “c-” rating in a research note on Thursday, March 25th. Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, May 5th. Barclays raised their target price on shares of PennyMac Mortgage Investment Trust from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday. Wells Fargo & Company raised their target price on shares of PennyMac Mortgage Investment Trust from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 13th. Finally, BTIG Research restated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research note on Friday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $19.75.

PMT stock traded down $0.15 during trading hours on Friday, reaching $20.49. The stock had a trading volume of 8,840 shares, compared to its average volume of 840,857. The company has a market capitalization of $2.01 billion, a PE ratio of 2.99 and a beta of 1.17. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average is $19.72. PennyMac Mortgage Investment Trust has a fifty-two week low of $13.82 and a fifty-two week high of $20.96.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 29th. Shareholders of record on Thursday, April 15th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 9.18%. The ex-dividend date was Wednesday, April 14th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 696.30%.

In related news, Director Scott W. Carnahan sold 1,419 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $19.92, for a total transaction of $28,266.48. Following the sale, the director now directly owns 58,110 shares of the company’s stock, valued at approximately $1,157,551.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marianne Sullivan sold 7,583 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $20.17, for a total transaction of $152,949.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,776 shares of company stock worth $196,463. Insiders own 0.84% of the company’s stock.

Several institutional investors have recently made changes to their positions in PMT. Catalyst Capital Advisors LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 48.8% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,830 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 600 shares during the last quarter. US Bancorp DE grew its holdings in shares of PennyMac Mortgage Investment Trust by 345.8% during the 4th quarter. US Bancorp DE now owns 2,247 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,743 shares during the last quarter. Veriti Management LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $59,000. Ameritas Investment Company LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at approximately $97,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of PennyMac Mortgage Investment Trust by 11.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 5,039 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 524 shares during the last quarter. 68.79% of the stock is currently owned by institutional investors.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The company operates through Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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

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