Walter Investment Management Corp to Post Q1 2017 Earnings of ($0.98) Per Share, Oppenheimer Holdings Forecasts (WAC)
Walter Investment Management Corp (NYSE:WAC) – Investment analysts at Oppenheimer Holdings issued their Q1 2017 EPS estimates for shares of Walter Investment Management Corp in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst B. Chittenden expects that the brokerage will earn ($0.98) per share for the quarter. Oppenheimer Holdings also issued estimates for Walter Investment Management Corp’s Q2 2017 earnings at ($0.98) EPS, Q3 2017 earnings at ($0.94) EPS, Q4 2017 earnings at ($0.94) EPS and FY2017 earnings at ($3.86) EPS.
A number of other brokerages have also recently issued reports on WAC. Keefe, Bruyette & Woods cut shares of Walter Investment Management Corp from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $3.00 to $5.00 in a report on Tuesday, December 13th. Zacks Investment Research upgraded shares of Walter Investment Management Corp from a “sell” rating to a “hold” rating in a report on Wednesday, January 11th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $2.13.
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Walter Investment Management Corp (NYSE:WAC) opened at 1.10 on Monday. Walter Investment Management Corp has a 12 month low of $0.85 and a 12 month high of $8.51. The firm’s market cap is $40.03 million. The firm’s 50 day moving average is $3.23 and its 200-day moving average is $4.37.
Walter Investment Management Corp (NYSE:WAC) last announced its earnings results on Tuesday, March 14th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.75. Walter Investment Management Corp had a negative return on equity of 9.79% and a negative net margin of 70.66%. The business had revenue of $444.10 million for the quarter, compared to analyst estimates of $272.20 million. During the same quarter in the previous year, the company earned ($0.14) EPS. The business’s revenue for the quarter was up 33.9% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Walter Investment Management Corp by 33.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 27,045 shares of the company’s stock valued at $128,000 after buying an additional 6,731 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Walter Investment Management Corp during the third quarter valued at $159,000. Norges Bank purchased a new position in Walter Investment Management Corp during the fourth quarter valued at $1,144,000. California Public Employees Retirement System boosted its position in Walter Investment Management Corp by 3.3% in the third quarter. California Public Employees Retirement System now owns 435,800 shares of the company’s stock valued at $1,769,000 after buying an additional 14,100 shares during the period. Finally, Arrowgrass Capital Partners US LP purchased a new position in Walter Investment Management Corp during the third quarter valued at $3,190,000. Institutional investors and hedge funds own 94.02% of the company’s stock.
Walter Investment Management Corp Company Profile
Walter Investment Management Corp. is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. The Company operates through three segments: Servicing, Originations and Reverse Mortgage. The Servicing segment consists of operations that perform servicing for third-party credit owners of mortgage loans, as well as its own mortgage loan portfolio.
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