Walter Investment Management Corp. (NYSE:WAC) Scheduled to Post Quarterly Earnings on Monday
Walter Investment Management Corp. (NYSE:WAC) will be announcing its earnings results before the market opens on Monday, August 7th. Analysts expect the company to announce earnings of ($0.68) per share for the quarter.
Walter Investment Management Corp. (NYSE:WAC) last released its earnings results on Wednesday, May 10th. The financial services provider reported ($0.70) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.98) by $0.28. Walter Investment Management Corp. had a negative net margin of 30.19% and a negative return on equity of 23.03%. The business had revenue of $245.29 million during the quarter, compared to analyst estimates of $245.60 million. During the same quarter in the prior year, the firm earned ($0.50) earnings per share. The company’s revenue for the quarter was up 267.4% compared to the same quarter last year. On average, analysts expect Walter Investment Management Corp. to post $-1.8800 EPS for the current fiscal year and $-1.6500 EPS for the next fiscal year.
Shares of Walter Investment Management Corp. (NYSE WAC) opened at 0.4009 on Friday. Walter Investment Management Corp. has a 12-month low of $0.40 and a 12-month high of $8.11. The stock’s 50 day moving average is $0.86 and its 200-day moving average is $1.76. The stock’s market cap is $14.65 million.
A number of research analysts have recently weighed in on WAC shares. Keefe, Bruyette & Woods restated a “sell” rating and issued a $1.00 price target on shares of Walter Investment Management Corp. in a research report on Wednesday, April 19th. Wells Fargo & Company upgraded Walter Investment Management Corp. from an “underperform” rating to a “market perform” rating and set a $1.25 price objective for the company in a research report on Wednesday, May 10th. Finally, Zacks Investment Research upgraded Walter Investment Management Corp. from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a research report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $1.50.
About Walter Investment Management Corp.
Walter Investment Management Corp. is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. The Company operates through three segments: Servicing, Originations and Reverse Mortgage. The Servicing segment consists of operations that perform servicing for third-party credit owners of mortgage loans, as well as its own mortgage loan portfolio.
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