Fiscal 2023 EPS estimates for UWM Holdings Co. cut by analyst (NYSE:UWMC)
UWM Holdings Co. (NYSE:UWMC – Get Rating) – Wedbush lowered its FY2023 EPS estimates for UWM shares in a report released Friday, June 17. Wedbush analyst H. Coffey now expects the company to post earnings of $0.41 per share for the year, down from its previous estimate of $0.50. Wedbush currently has a “Neutral” rating and a target price of $5.00 on the stock. The consensus estimate of UWM’s current annual earnings is $0.20 per share.
UWMC has been the subject of several other reports. JMP Securities reaffirmed a “buy” rating and issued a target price of $5.00 (vs. $6.00) on UWM shares in a Thursday, May 26 report. UBS Group reduced UWM shares from a “buy” rating to a “neutral” rating and set a target price of $5.00 for the company. in a report from Wednesday, February 23. Credit Suisse Group lowered its price target on UWM shares to $4.00 and set a “neutral” rating for the company in a Thursday, May 19 report. Argus reduced UWM’s shares from a “buy” rating to a “hold” rating in a Thursday, June 2 report. Finally, Piper Sandler cut UWM shares from a “neutral” rating to an “underweight” rating and lowered her target price for the company from $5.00 to $3.00 in a Thursday report. May 19. One research analyst rated the stock with a sell rating, ten gave a hold rating and one issued a buy rating for the company’s shares. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.56.
NYSE: UWMC opened at $3.22 on Monday. UWM has a 1-year low of $3.14 and a 1-year high of $10.02. The company has a debt ratio of 0.64, a current ratio of 1.85 and a quick ratio of 1.85. The company’s 50-day simple moving average is $3.82 and its 200-day simple moving average is $4.70. The company has a market capitalization of $297.95 million, a P/E ratio of 5.75 and a beta of 1.01.
UWM (NYSE:UWMC – Get Rating) last released its quarterly earnings data on Tuesday, May 10. The company reported EPS of $0.43 for the quarter, beating the consensus estimate of $0.08 by $0.35. UWM had a net margin of 2.78% and a return on equity of 13.31%. The company posted revenue of $821.79 million for the quarter, versus analyst estimates of $526.47 million. In the same quarter a year earlier, the company posted earnings per share of $0.71.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 11. Investors of record on Tuesday, June 21 will receive a dividend of $0.10. This represents a dividend of $0.40 on an annualized basis and a dividend yield of 12.42%. The ex-dividend date is Friday, June 17. UWM’s dividend payout ratio (DPR) is 71.43%.
A number of large investors have recently changed their stock holdings. Cetera Investment Advisers increased its position in UWM shares by 9.0% during the third quarter. Cetera Investment Advisers now owns 26,050 shares of the company valued at $181,000 after acquiring an additional 2,160 shares during the period. Amalgamated Bank increased its position in UWM shares by 15.7% in the fourth quarter. Amalgamated Bank now owns 17,609 shares of the company worth $104,000 after buying 2,396 additional shares during the period. Rafferty Asset Management LLC increased its position in UWM shares by 7.5% in the fourth quarter. Rafferty Asset Management LLC now owns 47,845 shares of the company worth $283,000 after purchasing 3,347 additional shares during the period. Truist Financial Corp increased its stake in UWM by 13.2% in the first quarter. Truist Financial Corp now owns 30,227 shares of the company valued at $137,000 after buying 3,516 more shares last quarter. Finally, Teacher Retirement System of Texas increased its stake in UWM by 23.8% in the 4th quarter. Teacher Retirement System of Texas now owns 18,520 shares of the company valued at $110,000 after buying 3,561 additional shares in the last quarter. Hedge funds and other institutional investors hold 33.06% of the company’s shares.
UWM Company Profile (Get a rating)
UWM Holdings Corporation is engaged in residential mortgage lending business in the United States. The company issues mortgages through the wholesale channel. It is primarily the originator of conforming loans and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.
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