Stonegate Mortgage Corp. (NYSE:SGM) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.16 and last traded at $3.32, with a volume of 18,245 shares changing hands. The stock had previously closed at $3.31.

Separately, Credit Suisse Group AG downgraded shares of Stonegate Mortgage Corp. from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $8.00.

The firm’s market cap is $85.71 million. The firm’s 50-day moving average price is $3.80 and its 200 day moving average price is $4.56.

Stonegate Mortgage Corp. (NYSE:SGM) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.15. During the same period last year, the firm earned $0.22 earnings per share. The business had revenue of $5 million for the quarter, compared to the consensus estimate of $42.92 million. The company’s revenue was down 85.7% compared to the same quarter last year. Equities analysts predict that Stonegate Mortgage Corp. will post $0.03 EPS for the current year.

Stonegate Mortgage Corporation is a non-bank mortgage company. The Company is focused on originating, financing and servicing the United States residential mortgage loans. The Company’s segments include Originations, Servicing, Financing and Other. The Originations segment primarily originates and sells residential mortgage loans, which conform to the underwriting guidelines of the government sponsored enterprises and government agencies, and non-agency whole loan investors.