UWM Holdings Co. (NYSE:UWMC) Forecasted to Earn Q1 2023 Earnings of $0.08 Per Share

UWM Holdings Co. (NYSE:UWMC – Get Rating) – Analysts at Jefferies Financial Group decreased their Q1 2023 EPS estimates for UWM in a research note issued on Tuesday, August 9th. Jefferies Financial Group analyst K. Joseph now anticipates that the company will post earnings per share of $0.08 for the quarter, down from their prior forecast of $0.14. The consensus estimate for UWM’s current full-year earnings is $0.24 per share. Jefferies Financial Group also issued estimates for UWM’s Q2 2023 earnings at $0.09 EPS, Q3 2023 earnings at $0.11 EPS and Q4 2023 earnings at $0.12 EPS.

UWM (NYSE:UWMC – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.35. UWM had a net margin of 2.70% and a return on equity of 17.74%. The firm had revenue of $821.79 million for the quarter, compared to analysts’ expectations of $526.47 million. During the same quarter last year, the company posted $0.71 earnings per share.

Other equities research analysts have also recently issued research reports about the company. JMP Securities reaffirmed a “buy” rating and set a $5.00 price target (down previously from $6.00) on shares of UWM in a report on Thursday, May 26th. Wedbush cut UWM from an “outperform” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Tuesday, May 17th. Piper Sandler cut UWM from a “neutral” rating to an “underweight” rating and cut their price target for the company from $5.00 to $3.00 in a report on Thursday, May 19th. Barclays cut their price target on UWM from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Monday, July 11th. Finally, BTIG Research initiated coverage on UWM in a report on Wednesday, April 20th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.70.

UWM Stock Performance

Shares of NYSE UWMC opened at $4.06 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.86 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $3.72 and its two-hundred day moving average price is $4.05. UWM has a 52-week low of $3.14 and a 52-week high of $7.94. The stock has a market capitalization of $375.68 million, a P/E ratio of 7.00 and a beta of 0.99.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Tuesday, September 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, September 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.85%. UWM’s dividend payout ratio is presently 68.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UWMC. Allegheny Financial Group LTD acquired a new position in UWM in the fourth quarter worth approximately $30,000. MQS Management LLC acquired a new position in UWM in the second quarter worth approximately $36,000. Xponance Inc. acquired a new position in UWM in the second quarter worth approximately $40,000. Baker Tilly Wealth Management LLC acquired a new position in UWM in the first quarter worth approximately $48,000. Finally, Principal Financial Group Inc. acquired a new position in UWM in the second quarter worth approximately $48,000. Institutional investors and hedge funds own 33.06% of the company’s stock.

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.

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