Brokerages expect that PennyMac Mortgage Investment Trust (NYSE:PMT) will post sales of $78.05 million for the current quarter, Zacks reports. Two analysts have provided estimates for PennyMac Mortgage Investment Trust’s earnings, with estimates ranging from $74.90 million to $81.20 million. PennyMac Mortgage Investment Trust posted sales of $75.80 million during the same quarter last year, which suggests a positive year over year growth rate of 3%. The firm is scheduled 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 financial year, with estimates ranging from $295.70 million to $309.40 million. For the next fiscal year, analysts anticipate that the firm will report sales of $315.60 million, with estimates ranging from $307.10 million to $324.10 million. Zacks’ sales calculations are an average based on a survey of research firms that cover PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $70.85 million. During the same period in the prior year, the company earned $0.38 earnings per share.

PMT has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Barclays upped their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $18.00 and gave the company an “equal weight” rating in a 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 report on Wednesday, June 20th. Wells Fargo & Co initiated coverage on shares of PennyMac Mortgage Investment Trust in a report on Tuesday, September 18th. They set a “market perform” rating and a $20.00 price target for the company. Finally, Credit Suisse Group upped their price target on shares of PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.80.

In related news, Director Marianne Sullivan bought 3,015 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Friday, August 31st. The stock was acquired at an average price of $19.95 per share, for a total transaction of $60,149.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Dufauchard Jr. Preston sold 5,300 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $19.52, for a total transaction of $103,456.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,790 shares of company stock valued at $605,990. 2.46% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PMT. Rhumbline Advisers lifted its stake in shares of PennyMac Mortgage Investment Trust by 111.8% in the first quarter. Rhumbline Advisers now owns 148,085 shares of the real estate investment trust’s stock valued at $2,670,000 after buying an additional 78,158 shares during the period. Comerica Bank bought a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter valued at about $1,178,000. SG Americas Securities LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 10.0% in the first quarter. SG Americas Securities LLC now owns 41,359 shares of the real estate investment trust’s stock valued at $746,000 after buying an additional 3,771 shares during the period. American Century Companies Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter valued at about $3,145,000. Finally, Prudential Financial Inc. lifted its stake in shares of PennyMac Mortgage Investment Trust by 313.8% in the first quarter. Prudential Financial Inc. now owns 102,660 shares of the real estate investment trust’s stock valued at $1,851,000 after buying an additional 77,850 shares during the period. Institutional investors and hedge funds own 67.34% of the company’s stock.

PMT stock traded up $0.14 during mid-day trading on Friday, reaching $20.20. 17,139 shares of the stock traded hands, compared to its average volume of 388,264. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.60 and a quick ratio of 0.60. PennyMac Mortgage Investment Trust has a 52 week low of $14.87 and a 52 week high of $20.41. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 2.68 and a beta of 0.41.

About PennyMac Mortgage Investment Trust

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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