Stonegate Mortgage Corp. (SGM) PT Set at $6.00 by Credit Suisse Group AG
Stonegate Mortgage Corp. (NYSE:SGM) has been assigned a $6.00 price objective by equities researchers at Credit Suisse Group AG in a research note issued on Thursday. The brokerage presently has a “hold” rating on the stock. Credit Suisse Group AG’s price objective would indicate a potential upside of 19.05% from the stock’s current price.
A number of other research firms have also recently issued reports on SGM. FBR & Co restated a “buy” rating on shares of Stonegate Mortgage Corp. in a report on Tuesday, November 8th. Zacks Investment Research cut Stonegate Mortgage Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Finally, Gabelli began coverage on Stonegate Mortgage Corp. in a report on Thursday, October 20th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $4.58.
Stonegate Mortgage Corp. (NYSE:SGM) opened at 5.04 on Thursday. The company’s 50-day moving average is $4.38 and its 200-day moving average is $3.99. The firm’s market capitalization is $130.30 million. Stonegate Mortgage Corp. has a one year low of $3.16 and a one year high of $6.28.
Stonegate Mortgage Corp. (NYSE:SGM) last announced its earnings results on Thursday, November 3rd. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.31. Stonegate Mortgage Corp. had a positive return on equity of 3.92% and a negative net margin of 26.69%. The business had revenue of $66.30 million for the quarter, compared to analysts’ expectations of $50.15 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue was up 159.3% on a year-over-year basis. Equities analysts forecast that Stonegate Mortgage Corp. will post $0.50 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its position in shares of Stonegate Mortgage Corp. by 1.6% in the third quarter. D. E. Shaw & Co. Inc. now owns 64,461 shares of the company’s stock worth $295,000 after buying an additional 1,017 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its position in shares of Stonegate Mortgage Corp. by 0.8% in the third quarter. Eagle Boston Investment Management Inc. now owns 401,963 shares of the company’s stock worth $1,840,000 after buying an additional 3,003 shares in the last quarter. Aristotle Capital Boston LLC boosted its position in shares of Stonegate Mortgage Corp. by 3.6% in the second quarter. Aristotle Capital Boston LLC now owns 327,051 shares of the company’s stock worth $1,099,000 after buying an additional 11,314 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Stonegate Mortgage Corp. during the second quarter worth about $175,000. Finally, Waterstone Capital Management L.P. boosted its position in shares of Stonegate Mortgage Corp. by 1.4% in the second quarter. Waterstone Capital Management L.P. now owns 647,425 shares of the company’s stock worth $2,175,000 after buying an additional 9,034 shares in the last quarter. Institutional investors own 45.35% of the company’s stock.
About Stonegate Mortgage Corp.
Stonegate Mortgage Corporation is a non-bank mortgage company. The Company is focused on originating, financing and servicing the United States residential mortgage loans. The Company’s segments include Originations, Servicing, Financing and Other. The Originations segment primarily originates and sells residential mortgage loans, which conform to the underwriting guidelines of the government sponsored enterprises and government agencies, and non-agency whole loan investors.
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