Q2 2022 EPS Estimates for UWM Holdings Co. Decreased by Jefferies Financial Group (NYSE:UWMC)

UWM Holdings Co. (NYSE:UWMC – Get Rating) – Equities researchers at Jefferies Financial Group decreased their Q2 2022 earnings per share estimates for shares of UWM in a report released on Tuesday, May 10th. Jefferies Financial Group analyst K. Joseph now expects that the company will earn $0.06 per share for the quarter, down from their previous forecast of $0.11. Jefferies Financial Group also issued estimates for UWM’s Q3 2022 earnings at $0.11 EPS, Q4 2022 earnings at $0.10 EPS, Q1 2023 earnings at $0.14 EPS, Q2 2023 earnings at $0.14 EPS, Q3 2023 earnings at $0.14 EPS, Q4 2023 earnings at $0.14 EPS and FY2023 earnings at $0.56 EPS.

UWM (NYSE:UWMC – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.14. UWM had a net margin of 2.78% and a return on equity of 13.55%. During the same quarter in the prior year, the company earned $0.71 EPS.

Several other analysts also recently issued reports on UWMC. Zacks Investment Research downgraded shares of UWM from a “buy” rating to a “hold” rating in a report on Friday, March 4th. The Goldman Sachs Group reduced their price target on shares of UWM from $5.25 to $4.60 and set a “neutral” rating on the stock in a report on Monday, April 4th. UBS Group downgraded shares of UWM from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Wednesday, February 23rd. BTIG Research assumed coverage on shares of UWM in a report on Wednesday, April 20th. They issued a “neutral” rating on the stock. Finally, Barclays reduced their price target on shares of UWM from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, March 3rd. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.12.

UWMC stock opened at $3.79 on Thursday. The company has a market cap of $350.69 million, a P/E ratio of 6.77 and a beta of 1.05. UWM has a 52 week low of $3.38 and a 52 week high of $10.98. The company’s 50-day moving average price is $4.09 and its 200 day moving average price is $5.23. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Stockholders of record on Tuesday, June 21st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.55%. The ex-dividend date of this dividend is Friday, June 17th. UWM’s dividend payout ratio is presently 71.43%.

A number of hedge funds have recently modified their holdings of UWMC. BlackRock Inc. increased its position in UWM by 40.2% during the fourth quarter. BlackRock Inc. now owns 4,440,979 shares of the company’s stock worth $26,291,000 after purchasing an additional 1,273,712 shares during the last quarter. Integrated Investment Consultants LLC increased its position in UWM by 8,171.8% during the fourth quarter. Integrated Investment Consultants LLC now owns 1,044,234 shares of the company’s stock worth $6,182,000 after purchasing an additional 1,031,610 shares during the last quarter. Balyasny Asset Management LLC increased its position in UWM by 119.1% during the third quarter. Balyasny Asset Management LLC now owns 88,738 shares of the company’s stock worth $617,000 after purchasing an additional 553,738 shares during the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in UWM during the fourth quarter worth approximately $2,976,000. Finally, Wells Fargo & Company MN increased its position in UWM by 792.8% during the fourth quarter. Wells Fargo & Company MN now owns 531,286 shares of the company’s stock worth $3,146,000 after purchasing an additional 471,776 shares during the last quarter. 33.06% of the stock is owned by hedge funds and other institutional investors.

About UWM (Get Rating)

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.

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