UWM (NYSE:UWMC) Releases Earnings Results, Beats Expectations By $0.06 EPS

UWM (NYSE:UWMC) released its quarterly earnings data on Wednesday. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.06, FiscalAI reports. The business had revenue of $811.09 million during the quarter, compared to analyst estimates of $690.29 million. UWM had a negative return on equity of 6.20% and a negative net margin of 1.04%.

UWM Stock Performance

NYSE UWMC traded up $0.15 during midday trading on Wednesday, hitting $1.75. The company had a trading volume of 13,142,268 shares, compared to its average volume of 18,132,172. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 6.05. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -21.94 and a beta of 1.82. The firm has a fifty day simple moving average of $1.30 and a two-hundred day simple moving average of $2.77. UWM has a fifty-two week low of $0.93 and a fifty-two week high of $6.15.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Keefe, Bruyette & Woods downgraded UWM from an “outperform” rating to a “market perform” rating and set a $1.50 price objective on the stock. in a report on Wednesday, October 7th. Compass Point cut shares of UWM from a “buy” rating to a “neutral” rating and set a $1.50 target price for the company. in a report on Tuesday, October 27th. Citigroup restated a “market outperform” rating on shares of UWM in a report on Monday, October 26th. Citizens Jmp upgraded shares of UWM from a “market perform” rating to an “outperform” rating and set a $3.00 price target for the company in a research report on Wednesday, July 29th. Finally, Stephens reduced their price target on shares of UWM from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.45.

UWM Company Profile

UWM Holdings Corporation, through its principal subsidiary United Wholesale Mortgage (UWM), operates as a wholesale mortgage lender in the United States. The company provides residential mortgage loans through a network of independent mortgage brokers, who work directly with borrowers and submit applications to UWM for underwriting and funding.

UWM offers a range of home loan products, including conventional, government-backed, jumbo and other residential mortgage programs. Its platform also provides brokers with technology, loan processing, underwriting and closing services designed to support the origination of mortgages for home purchases and refinancings.

United Wholesale Mortgage traces its history to 1986 and is headquartered in Pontiac, Michigan.