UWM (UWMC) Set to Announce Quarterly Earnings on Thursday

UWM (NYSE:UWMC) will be issuing its quarterly earnings data before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

UWM (NYSE:UWMC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million during the quarter, compared to analyst estimates of $540.31 million. During the same quarter in the prior year, the company posted $0.11 EPS. On average, analysts expect UWM to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

UWM Stock Performance

UWMC opened at $6.57 on Wednesday. The stock has a market cap of $627.68 million, a P/E ratio of -328.25 and a beta of 1.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. The stock’s 50 day simple moving average is $8.00 and its 200 day simple moving average is $7.70. UWM has a 1-year low of $5.01 and a 1-year high of $9.74.

Wall Street Analyst Weigh In

UWMC has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley started coverage on UWM in a report on Tuesday. They set an “equal weight” rating and a $7.50 target price on the stock. UBS Group increased their target price on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. BTIG Research increased their target price on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Wedbush increased their target price on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.66.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 5,000,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,562,547.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 94.11% of the company’s stock.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers 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.