UWM (NYSE:UWMC) Issues Quarterly Earnings Results

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

UWM Stock Performance

UWMC stock traded up $0.12 on Wednesday, reaching $1.72. 14,789,151 shares of the company were exchanged, compared to its average volume of 18,139,688. UWM has a 12 month low of $0.93 and a 12 month high of $6.15. The firm has a market capitalization of $2.75 billion, a PE ratio of -21.54 and a beta of 1.82. The stock’s fifty day moving average price is $1.30 and its 200 day moving average price is $2.77. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.64 and a quick ratio of 1.64.

Analyst Upgrades and Downgrades

UWMC has been the topic of several analyst reports. Compass Point downgraded shares of UWM from a “buy” rating to a “neutral” rating and set a $1.50 target price on the stock. in a research report on Tuesday, October 27th. Citigroup reaffirmed a “market outperform” rating on shares of UWM in a research report on Monday, October 26th. Morgan Stanley set a $1.50 price target on UWM in a research note on Monday, October 12th. UBS Group reissued a “market outperform” rating and set a $2.00 price objective on shares of UWM in a report on Monday, October 26th. Finally, Citizens Jmp raised UWM from a “market perform” rating to an “outperform” rating and set a $3.00 price objective on the stock in a report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.45.

About UWM

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.