UWM (UWMC) Set to Announce Earnings on Thursday

UWM (NYSE:UWMC) is scheduled to post its quarterly earnings results before the market opens on Thursday, November 7th. Analysts expect UWM to post earnings of $0.08 per share for the quarter.

UWM (NYSE:UWMC) last issued its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $507.09 million during the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. On average, analysts expect UWM to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

UWM Stock Up 0.8 %

UWM stock opened at $6.49 on Friday. UWM has a one year low of $5.01 and a one year high of $9.74. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $620.51 million, a P/E ratio of -324.50 and a beta of 1.63. The company has a 50-day simple moving average of $8.12 and a 200-day simple moving average of $7.67.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a $0.10 dividend. The ex-dividend date was Thursday, September 19th. This represents a $0.40 annualized dividend and a dividend yield of 6.16%. UWM’s payout ratio is -2,000.00%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on UWMC shares. Wedbush increased their price target on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. UBS Group upped their price objective on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. Keefe, Bruyette & Woods boosted their price target on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.68.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 1,200,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 94.11% of the company’s stock.

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.