PennyMac Financial Services (PFSI) Scheduled to Post Quarterly Earnings on Tuesday

PennyMac Financial Services (NYSE:PFSI - Get Free Report) is scheduled to announce its earnings results after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $2.92 per share for the quarter. Persons that are interested in registering for the company's earnings conference call can do so using this link.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.80). The firm had revenue of $406.13 million during the quarter, compared to analysts' expectations of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The business's revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.11 EPS. On average, analysts expect PennyMac Financial Services to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI traded up $1.97 during midday trading on Wednesday, hitting $110.92. The company's stock had a trading volume of 144,645 shares, compared to its average volume of 253,430. The company has a market cap of $5.65 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 0.66 and a beta of 1.77. The business's 50 day simple moving average is $106.81 and its 200 day simple moving average is $97.50. PennyMac Financial Services has a 12-month low of $62.15 and a 12-month high of $119.13. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37.

PennyMac Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were given a dividend of $0.30 per share. This is an increase from PennyMac Financial Services's previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.08%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 41.67%.

Insider Buying and Selling at PennyMac Financial Services

In other news, Director Joseph F. Mazzella sold 11,396 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the transaction, the director now directly owns 105,446 shares in the company, valued at $10,325,272.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO David Spector sold 10,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $107.57, for a total value of $1,075,700.00. Following the sale, the chief executive officer now directly owns 190,604 shares in the company, valued at approximately $20,503,272.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph F. Mazzella sold 11,396 shares of the company's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total value of $1,115,896.32. Following the sale, the director now owns 105,446 shares in the company, valued at approximately $10,325,272.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,855 shares of company stock valued at $9,647,599 over the last quarter. 16.60% of the stock is owned by company insiders.

Analyst Ratings Changes

PFSI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 target price for the company. in a research note on Monday, July 22nd. Piper Sandler lifted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. StockNews.com lowered shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a report on Wednesday, July 3rd. Barclays raised their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Finally, Wedbush raised their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $111.50.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.