UWM (NYSE:UWMC) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

UWM (NYSE:UWMC) released its quarterly earnings results on Tuesday. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02), Yahoo Finance reports. The business had revenue of $507.09 million for the quarter, compared to analyst estimates of $540.31 million. During the same quarter in the previous year, the firm earned $0.11 EPS.

UWM Price Performance

Shares of UWM stock traded down $0.34 on Wednesday, reaching $8.16. The company’s stock had a trading volume of 1,548,946 shares, compared to its average volume of 1,611,176. UWM has a 52-week low of $4.49 and a 52-week high of $8.92. The company has a market capitalization of $779.92 million, a P/E ratio of 290.00 and a beta of 1.63. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $7.49 and a 200-day moving average price of $7.02.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a yield of 4.90%. UWM’s dividend payout ratio is currently 1,333.33%.

Analyst Ratings Changes

UWMC has been the subject of a number of recent research reports. Barclays raised their target price on shares of UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods increased their price target on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday. Wedbush increased their price objective on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday. Finally, BTIG Research boosted their price target on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.75.

UWM Company Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.