loanDepot (NYSE:LDI) Announces Quarterly Earnings Results


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loanDepot (NYSE:LDI) issued its quarterly earnings data on Sunday. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.41, Briefing.com reports. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.02 billion. The business’s revenue was up 170.7% compared to the same quarter last year.

Shares of NYSE:LDI traded down $0.33 during trading hours on Tuesday, reaching $18.73. The stock had a trading volume of 165,047 shares, compared to its average volume of 683,202. The business’s 50 day moving average is $20.45. loanDepot has a 1 year low of $14.00 and a 1 year high of $39.85.

The company also recently disclosed a dividend, which will be paid on Tuesday, May 18th. Shareholders of record on Monday, May 3rd will be given a $0.612 dividend. The ex-dividend date of this dividend is Friday, April 30th.

A number of equities research analysts have commented on the stock. Citigroup assumed coverage on shares of loanDepot in a research report on Monday, March 15th. They issued a “buy” rating and a $25.00 target price for the company. Morgan Stanley assumed coverage on loanDepot in a research report on Monday, March 15th. They issued an “equal weight” rating and a $21.00 target price on the stock. JMP Securities started coverage on loanDepot in a research report on Monday, March 15th. They issued an “outperform” rating and a $25.00 target price on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on loanDepot in a research report on Monday, March 15th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, UBS Group initiated coverage on loanDepot in a report on Monday, March 15th. They issued a “neutral” rating and a $20.00 price target on the stock. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $23.67.

loanDepot Company Profile

loanDepot, Inc engages in the origination and servicing of conventional and government mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, home equity, Federal Housing Administration, and VA loans. The company also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.

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