UWM (NYSE:UWMC) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

UWM (NYSE:UWMC) issued its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02), Yahoo Finance reports. The company had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter in the previous year, the company posted $0.11 EPS.

UWM Price Performance

NYSE UWMC traded down $0.32 on Wednesday, reaching $8.18. The company’s stock had a trading volume of 2,652,011 shares, compared to its average volume of 1,618,479. UWM has a twelve month low of $4.49 and a twelve month high of $8.92. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.58 and a current ratio of 1.58. The firm’s 50 day moving average is $7.52 and its two-hundred day moving average is $7.03. The stock has a market cap of $781.35 million, a PE ratio of 272.50 and a beta of 1.63.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Thursday, September 19th. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays raised their price target on shares of UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Wedbush boosted their price target on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday. BTIG Research increased their price target on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.75.

About UWM

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.