UWM (NYSE:UWMC – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06), reports. The business had revenue of $560.21 million during the quarter, compared to the consensus estimate of $645.75 million.
UWM Stock Performance
Shares of UWMC stock traded down $0.13 during mid-day trading on Thursday, hitting $6.08. 2,612,898 shares of the stock were exchanged, compared to its average volume of 3,353,628. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of -26.41 and a beta of 1.66. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. UWM has a 12-month low of $5.31 and a 12-month high of $9.74. The stock’s fifty day simple moving average is $6.06 and its two-hundred day simple moving average is $7.01.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on UWMC. Morgan Stanley cut their price objective on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group cut their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, UWM currently has a consensus rating of “Hold” and a consensus price target of $7.39.
UWM Company Profile
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.
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