PennyMac Mortgage Investment Trust (NYSE:PMT) – Stock analysts at Wedbush issued their Q3 2016 earnings per share (EPS) estimates for shares of PennyMac Mortgage Investment Trust in a note issued to investors on Wednesday. Wedbush analyst J. Weaver anticipates that the firm will post earnings of $0.42 per share for the quarter. Wedbush currently has a “Neutral” rating and a $16.75 target price on the stock. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q4 2016 earnings at $0.33 EPS, FY2016 earnings at $0.88 EPS, Q1 2017 earnings at $0.36 EPS, Q2 2017 earnings at $0.48 EPS, Q3 2017 earnings at $0.43 EPS, Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $1.70 EPS and FY2018 earnings at $1.50 EPS.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.30. The firm earned $47.60 million during the quarter, compared to analysts’ expectations of $67.85 million. PennyMac Mortgage Investment Trust had a net margin of 26.07% and a return on equity of 4.41%. The business’s revenue was down 31.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS.

Earnings History and Estimates for PennyMac Mortgage Investment Trust (NYSE:PMT)

Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods reduced their target price on PennyMac Mortgage Investment Trust from $18.50 to $18.00 and set an “outperform” rating for the company in a report on Monday, August 8th. Zacks Investment Research cut PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 18th. Barclays PLC set a $15.00 price target on PennyMac Mortgage Investment Trust and gave the company a “hold” rating in a research report on Monday, July 25th. Finally, Bank of America Corp. cut PennyMac Mortgage Investment Trust from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $16.61.

PennyMac Mortgage Investment Trust (NYSE:PMT) opened at 14.82 on Monday. PennyMac Mortgage Investment Trust has a 52-week low of $10.91 and a 52-week high of $16.93. The stock has a market cap of $1.00 billion, a P/E ratio of 17.17 and a beta of 0.63. The stock has a 50 day moving average price of $15.15 and a 200 day moving average price of $15.06.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, October 7th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 12.69%. The ex-dividend date of this dividend is Wednesday, October 5th. PennyMac Mortgage Investment Trust’s payout ratio is 229.27%.

In other PennyMac Mortgage Investment Trust news, Director Scott W. Carnahan bought 3,341 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were bought at an average price of $15.22 per share, for a total transaction of $50,850.02. Following the transaction, the director now owns 49,203 shares of the company’s stock, valued at approximately $748,869.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Grogin sold 12,694 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $16.23, for a total value of $206,023.62. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PMT. Wolverine Asset Management LLC boosted its stake in PennyMac Mortgage Investment Trust by 1,104.5% in the second quarter. Wolverine Asset Management LLC now owns 73,546 shares of the company’s stock worth $1,193,000 after buying an additional 67,440 shares in the last quarter. Royal Bank of Canada boosted its stake in PennyMac Mortgage Investment Trust by 12.5% in the second quarter. Royal Bank of Canada now owns 6,977 shares of the company’s stock worth $113,000 after buying an additional 774 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in PennyMac Mortgage Investment Trust by 10.4% in the second quarter. Public Employees Retirement System of Ohio now owns 6,707 shares of the company’s stock worth $109,000 after buying an additional 633 shares in the last quarter. Sterling Capital Management LLC purchased a new stake in PennyMac Mortgage Investment Trust during the second quarter worth $724,000. Finally, Stifel Financial Corp boosted its stake in PennyMac Mortgage Investment Trust by 12.4% in the second quarter. Stifel Financial Corp now owns 30,315 shares of the company’s stock worth $493,000 after buying an additional 3,348 shares in the last quarter. Institutional investors and hedge funds own 61.30% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. It operates through two segments: correspondent production and investment activities.

5 Day Chart for NYSE:PMT

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