UWM (UWMC) Set to Announce Quarterly Earnings on Thursday

UWM (NYSE:UWMC) is scheduled to issue its quarterly earnings data before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million during the quarter, compared to analyst estimates of $540.31 million. During the same period last year, the business earned $0.11 EPS. On average, analysts expect UWM to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

UWM Stock Up 2.9 %

NYSE:UWMC opened at $6.57 on Wednesday. The company has a market capitalization of $627.68 million, a price-to-earnings ratio of -328.25 and a beta of 1.67. UWM has a one year low of $5.01 and a one year high of $9.74. The stock has a 50-day simple moving average of $8.00 and a 200 day simple moving average of $7.70. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48.

Analysts Set New Price Targets

UWMC has been the subject of a number of research reports. Wedbush lifted their price target on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods raised their target price on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Morgan Stanley assumed coverage on shares of UWM in a report on Tuesday. They issued an “equal weight” rating and a $7.50 target price on the stock. BTIG Research raised their target price on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.66.

Insider Activity

In other news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the sale, the chief executive officer now owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 94.11% of the company’s stock.

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.