Analysts Expect PennyMac Mortgage Investment Trust (NYSE:PMT) to Announce $0.43 Earnings Per Share

Brokerages forecast that PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) will report earnings per share of $0.43 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for PennyMac Mortgage Investment Trust’s earnings, with estimates ranging from $0.36 to $0.52. PennyMac Mortgage Investment Trust posted earnings of $0.32 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 34.4%. The business is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full year earnings of $1.94 per share for the current fiscal year, with EPS estimates ranging from $1.79 to $2.08. For the next fiscal year, analysts forecast that the business will post earnings of $1.79 per share, with EPS estimates ranging from $1.78 to $1.80. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover PennyMac Mortgage Investment Trust.

Several brokerages have issued reports on PMT. Jonestrading dropped their price objective on PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a report on Friday, May 6th. JMP Securities dropped their price objective on PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 26th. Zacks Investment Research lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. Piper Sandler dropped their price objective on PennyMac Mortgage Investment Trust from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Tuesday, April 5th. Finally, Credit Suisse Group dropped their price objective on PennyMac Mortgage Investment Trust to $17.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.72.

A number of large investors have recently made changes to their positions in the stock. Voya Investment Management LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 1.8% during the 3rd quarter. Voya Investment Management LLC now owns 41,479 shares of the real estate investment trust’s stock valued at $817,000 after acquiring an additional 743 shares during the period. Wedbush Securities Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 4.9% during the 1st quarter. Wedbush Securities Inc. now owns 16,301 shares of the real estate investment trust’s stock valued at $275,000 after acquiring an additional 760 shares during the period. CIBC Asset Management Inc lifted its position in shares of PennyMac Mortgage Investment Trust by 6.7% during the 4th quarter. CIBC Asset Management Inc now owns 12,146 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 761 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 3.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,150 shares of the real estate investment trust’s stock valued at $488,000 after acquiring an additional 857 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 3.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock valued at $548,000 after acquiring an additional 1,137 shares during the period. Hedge funds and other institutional investors own 70.77% of the company’s stock.

Shares of PMT stock traded up $0.10 during mid-day trading on Wednesday, hitting $16.28. 792,989 shares of the stock were exchanged, compared to its average volume of 1,084,721. The stock’s fifty day simple moving average is $15.85 and its two-hundred day simple moving average is $16.73. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -22.30 and a beta of 1.11. PennyMac Mortgage Investment Trust has a 12-month low of $14.61 and a 12-month high of $21.53. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.52 and a current ratio of 0.52.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 28th. Investors of record on Friday, April 15th were given a $0.47 dividend. The ex-dividend date was Wednesday, April 13th. This represents a $1.88 dividend on an annualized basis and a yield of 11.55%. PennyMac Mortgage Investment Trust’s payout ratio is currently -257.53%.

About PennyMac Mortgage Investment Trust (Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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