Equities research analysts forecast that PennyMac Mortgage Investment Trust (NYSE:PMT) will report $78.05 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for PennyMac Mortgage Investment Trust’s earnings, with the lowest sales estimate coming in at $74.90 million and the highest estimate coming in at $81.20 million. PennyMac Mortgage Investment Trust posted sales of $75.80 million in the same quarter last year, which would indicate a positive year over year growth rate of 3%. The company is expected to announce its next quarterly earnings results on Thursday, November 1st.

According to Zacks, analysts expect that PennyMac Mortgage Investment Trust will report full-year sales of $302.55 million for the current fiscal year, with estimates ranging from $295.70 million to $309.40 million. For the next fiscal year, analysts anticipate that the business will post sales of $315.60 million per share, with estimates ranging from $307.10 million to $324.10 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.10. PennyMac Mortgage Investment Trust had a net margin of 36.14% and a return on equity of 8.37%. The company had revenue of $82.99 million for the quarter, compared to analysts’ expectations of $70.85 million. During the same quarter in the previous year, the business posted $0.38 earnings per share.

PMT has been the topic of several research reports. Barclays boosted their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 25th. Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 20th.

In other news, Director Marianne Sullivan acquired 3,015 shares of the business’s stock in a transaction on Friday, August 31st. The shares were acquired at an average price of $19.95 per share, for a total transaction of $60,149.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Spector sold 7,000 shares of the business’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $18.68, for a total transaction of $130,760.00. The disclosure for this sale can be found here. Insiders have sold 31,790 shares of company stock worth $605,990 in the last quarter. Company insiders own 2.46% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP bought a new position in PennyMac Mortgage Investment Trust during the first quarter valued at $192,000. Element Capital Management LLC bought a new position in PennyMac Mortgage Investment Trust during the first quarter valued at $200,000. Profund Advisors LLC bought a new position in PennyMac Mortgage Investment Trust during the first quarter valued at $201,000. Fox Run Management L.L.C. bought a new position in PennyMac Mortgage Investment Trust during the second quarter valued at $208,000. Finally, Centaurus Financial Inc. bought a new position in PennyMac Mortgage Investment Trust during the second quarter valued at $220,000. Institutional investors and hedge funds own 67.35% of the company’s stock.

Shares of PMT opened at $20.02 on Wednesday. PennyMac Mortgage Investment Trust has a fifty-two week low of $14.87 and a fifty-two week high of $20.20. The firm has a market capitalization of $1.22 billion, a P/E ratio of 15.40 and a beta of 0.41. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.50.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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

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