PennyMac Financial Services (NYSE:PFSI) Announces Earnings Results, Misses Estimates By $1.62 EPS

PennyMac Financial Services (NYSE:PFSI) announced its earnings results on Tuesday. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62), Briefing.com reports. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The firm had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter last year, the business earned $1.77 EPS. The business’s revenue was up 2.9% compared to the same quarter last year.

PennyMac Financial Services Price Performance

NYSE PFSI traded down $2.42 on Wednesday, hitting $101.22. 120,301 shares of the company were exchanged, compared to its average volume of 253,268. PennyMac Financial Services has a 1-year low of $62.15 and a 1-year high of $119.13. The company has a market cap of $5.18 billion, a P/E ratio of 28.61, a P/E/G ratio of 0.67 and a beta of 1.77. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. The firm has a 50 day moving average of $107.66 and a two-hundred day moving average of $98.09.

Insider Activity

In related news, insider Steven Richard Bailey sold 14,130 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the sale, the insider now directly owns 14,670 shares of the company’s stock, valued at $1,714,629.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total value of $1,651,514.40. Following the sale, the insider now directly owns 14,670 shares in the company, valued at $1,714,629.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph F. Mazzella sold 11,396 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the transaction, the director now owns 105,446 shares of the company’s stock, valued at approximately $10,325,272.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,855 shares of company stock valued at $9,647,599 over the last three months. 16.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barclays boosted their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target for the company. in a report on Monday, July 22nd. Piper Sandler raised their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday. Wedbush lifted their price objective on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $112.67.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.