PennyMac Financial Services (NYSE:PFSI) Issues Quarterly Earnings Results, Misses Estimates By $0.22 EPS

PennyMac Financial Services (NYSE:PFSI) announced its quarterly earnings results on Thursday. The real estate investment trust reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.22), FiscalAI reports. PennyMac Financial Services had a return on equity of 11.18% and a net margin of 17.74%. The company had revenue of $502.00 million during the quarter, compared to the consensus estimate of $531.77 million.

PennyMac Financial Services Trading Up 1.7%

Shares of NYSE PFSI traded up $1.08 during midday trading on Thursday, reaching $64.50. 438,638 shares of the stock were exchanged, compared to its average volume of 667,226. The stock has a market capitalization of $3.35 billion, a P/E ratio of 8.86 and a beta of 1.45. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.38. PennyMac Financial Services has a twelve month low of $57.52 and a twelve month high of $160.36. The company has a 50 day simple moving average of $66.51 and a 200 day simple moving average of $85.85.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PFSI. BTIG Research lowered their target price on PennyMac Financial Services from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Financial Services in a report on Monday, August 3rd. Keefe, Bruyette & Woods decreased their price objective on PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Wall Street Zen downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Stephens cut their price objective on PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, PennyMac Financial Services has a consensus rating of “Hold” and a consensus target price of $93.57.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a specialty financial services company focused on the U.S. residential mortgage market. Through its subsidiaries, the company originates, acquires, and services residential mortgage loans, with an emphasis on conventional, government-backed, and other mortgage products.

PennyMac’s primary businesses include mortgage production, loan servicing, and investment management. Its production platform acquires and originates loans through correspondent relationships with banks and other lenders, as well as through direct-to-consumer and broker channels.