PennyMac Financial Services (NYSE:PFSI) Releases Quarterly Earnings Results, Misses Estimates By $1.62 EPS

PennyMac Financial Services (NYSE:PFSI) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62), Briefing.com reports. The business had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. PennyMac Financial Services’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $1.77 EPS.

PennyMac Financial Services Trading Down 1.3 %

Shares of PFSI stock opened at $103.58 on Wednesday. PennyMac Financial Services has a 1-year low of $62.15 and a 1-year high of $119.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 0.67 and a beta of 1.77. The stock has a 50-day moving average of $107.66 and a 200-day moving average of $98.09.

Wall Street Analysts Forecast Growth

PFSI has been the subject of several research analyst reports. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Barclays increased their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target for the company. in a report on Monday, July 22nd. Wedbush raised their price objective on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Piper Sandler upped their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $111.50.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the transaction, the director now owns 105,446 shares in the company, valued at approximately $10,325,272.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00. Following the completion of the sale, the chief executive officer now owns 210,604 shares of the company’s stock, valued at $20,915,083.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph F. Mazzella sold 11,396 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the transaction, the director now owns 105,446 shares in the company, valued at $10,325,272.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,855 shares of company stock worth $9,647,599 over the last ninety days. Insiders own 16.60% of the company’s stock.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.