Zacks: Analysts Expect UWM Holdings Co. (NYSE:UWMC) Will Announce Quarterly Sales of $473.90 Million

Wall Street brokerages expect UWM Holdings Co. (NYSE:UWMCGet Rating) to report $473.90 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for UWM’s earnings, with the lowest sales estimate coming in at $403.90 million and the highest estimate coming in at $539.80 million. UWM posted sales of $484.65 million during the same quarter last year, which suggests a negative year over year growth rate of 2.2%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that UWM will report full-year sales of $2.18 billion for the current year, with estimates ranging from $2.12 billion to $2.29 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.46 billion, with estimates ranging from $2.27 billion to $2.59 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover UWM.

UWM (NYSE:UWMCGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.14. UWM had a net margin of 2.78% and a return on equity of 13.31%. During the same period in the previous year, the business posted $0.71 EPS.

Several equities analysts have commented on UWMC shares. Wedbush cut shares of UWM from an “outperform” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research report on Tuesday. Zacks Investment Research cut shares of UWM from a “buy” rating to a “hold” rating in a research report on Friday, March 4th. BTIG Research started coverage on shares of UWM in a research note on Wednesday, April 20th. They set a “neutral” rating for the company. UBS Group lowered shares of UWM from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a research note on Wednesday, February 23rd. Finally, Barclays decreased their price target on shares of UWM from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, March 3rd. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, UWM presently has a consensus rating of “Hold” and a consensus price target of $6.85.

A number of institutional investors have recently added to or reduced their stakes in UWMC. BlackRock Inc. boosted its holdings in UWM by 59.0% in the 3rd quarter. BlackRock Inc. now owns 3,167,267 shares of the company’s stock valued at $22,013,000 after purchasing an additional 1,175,617 shares during the period. Credit Suisse AG boosted its holdings in UWM by 9.6% in the 3rd quarter. Credit Suisse AG now owns 65,577 shares of the company’s stock valued at $456,000 after purchasing an additional 5,725 shares during the period. WealthPLAN Partners LLC bought a new position in UWM in the 4th quarter valued at $52,000. Teacher Retirement System of Texas boosted its holdings in UWM by 28.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 14,959 shares of the company’s stock valued at $104,000 after purchasing an additional 3,320 shares during the period. Finally, Point72 Hong Kong Ltd boosted its holdings in UWM by 47.0% in the 3rd quarter. Point72 Hong Kong Ltd now owns 25,893 shares of the company’s stock valued at $180,000 after purchasing an additional 8,277 shares during the period. Institutional investors and hedge funds own 33.06% of the company’s stock.

Shares of UWM stock traded up $0.11 during mid-day trading on Friday, hitting $4.16. 42,558 shares of the stock were exchanged, compared to its average volume of 2,266,411. UWM has a 12 month low of $3.38 and a 12 month high of $10.98. The company has a 50-day simple moving average of $4.07 and a 200 day simple moving average of $5.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market capitalization of $384.92 million, a P/E ratio of 7.23 and a beta of 1.05.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Tuesday, June 21st will be paid a $0.10 dividend. The ex-dividend date is Friday, June 17th. This represents a $0.40 dividend on an annualized basis and a yield of 9.62%. UWM’s dividend payout ratio is 71.43%.

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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