UWM (NYSE:UWMC) Issues Earnings Results, Misses Expectations By $0.06 EPS

UWM (NYSE:UWMC) announced its quarterly earnings data on Wednesday. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06), reports. The business had revenue of $560.21 million for the quarter, compared to analyst estimates of $645.75 million.

UWM Stock Performance

Shares of NYSE:UWMC traded down $0.18 during trading on Thursday, hitting $6.03. 2,102,123 shares of the company were exchanged, compared to its average volume of 3,334,731. UWM has a 52-week low of $5.31 and a 52-week high of $9.74. The stock has a 50 day moving average of $6.06 and a 200 day moving average of $7.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $9.63 billion, a PE ratio of -26.15 and a beta of 1.66.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UWMC shares. Morgan Stanley decreased their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group decreased their target price on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods dropped their price target on UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.39.

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.