UWM (NYSE:UWMC) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

UWM (NYSE:UWMC) released its earnings results on Wednesday. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06), reports. The business had revenue of $560.21 million during the quarter, compared to analysts’ expectations of $645.75 million.

UWM Price Performance

Shares of UWMC stock opened at $6.20 on Friday. The stock’s fifty day simple moving average is $6.06 and its 200 day simple moving average is $7.00. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. UWM has a one year low of $5.31 and a one year high of $9.74. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of -27.10 and a beta of 1.66.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend is Thursday, March 20th. UWM’s payout ratio is -173.91%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on UWMC. Keefe, Bruyette & Woods lowered their price objective on shares of UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley decreased their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group cut their price objective on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.39.

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.