UWM Holdings Co. Expected to Post FY2023 Earnings of $0.41 Per Share (NYSE:UWMC)

UWM Holdings Co. (NYSE:UWMCGet Rating) – Wedbush dropped their FY2023 earnings per share (EPS) estimates for UWM in a research report issued to clients and investors on Friday, June 17th. Wedbush analyst H. Coffey now expects that the company will post earnings per share of $0.41 for the year, down from their previous forecast of $0.50. Wedbush has a “Neutral” rating and a $5.00 price target on the stock. The consensus estimate for UWM’s current full-year earnings is $0.20 per share.

A number of other analysts have also recently weighed in on the stock. BTIG Research started coverage on shares of UWM in a report on Wednesday, April 20th. They set a “neutral” rating on the stock. Barclays dropped their price objective on shares of UWM from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 3rd. The Goldman Sachs Group decreased their price objective on shares of UWM from $5.25 to $4.60 and set a “neutral” rating on the stock in a report on Monday, April 4th. Argus downgraded shares of UWM from a “buy” rating to a “hold” rating in a research report on Thursday, June 2nd. Finally, Credit Suisse Group dropped their price objective on shares of UWM to $4.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, UWM presently has an average rating of “Hold” and an average price target of $5.56.

NYSE UWMC opened at $3.22 on Monday. The firm has a 50 day simple moving average of $3.82 and a 200-day simple moving average of $4.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.85 and a current ratio of 1.85. UWM has a one year low of $3.14 and a one year high of $10.02. The firm has a market cap of $297.95 million, a price-to-earnings ratio of 5.75 and a beta of 1.01.

UWM (NYSE:UWMCGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.35. UWM had a return on equity of 13.31% and a net margin of 2.78%. The firm had revenue of $821.79 million for the quarter, compared to the consensus estimate of $526.47 million. During the same quarter last year, the business posted $0.71 earnings per share.

A number of hedge funds have recently made changes to their positions in UWMC. Captrust Financial Advisors bought a new position in shares of UWM in the third quarter valued at about $32,000. Allegheny Financial Group LTD acquired a new stake in UWM in the 4th quarter valued at $30,000. WealthPLAN Partners LLC acquired a new stake in UWM in the 4th quarter valued at $52,000. Baker Tilly Wealth Management LLC acquired a new position in shares of UWM during the 1st quarter worth about $48,000. Finally, SG Americas Securities LLC acquired a new position in shares of UWM during the 1st quarter worth about $52,000. 33.06% of the stock is currently owned by institutional investors and hedge funds.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Stockholders of record on Tuesday, June 21st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 12.42%. The ex-dividend date is Friday, June 17th. UWM’s dividend payout ratio is 71.43%.

About UWM (Get Rating)

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates 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.

See Also

Earnings History and Estimates for UWM (NYSE:UWMC)

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