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UWM (NYSE:UWMC) Issues Earnings Results

UWM logo with Finance background

UWM (NYSE:UWMC - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29), Zacks reports. The business had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million.

UWM Stock Performance

NYSE:UWMC traded up $0.02 during trading hours on Friday, reaching $4.23. 2,998,087 shares of the company's stock were exchanged, compared to its average volume of 3,022,698. The company has a 50-day moving average of $5.14 and a 200 day moving average of $5.81. UWM has a 1-year low of $4.04 and a 1-year high of $9.74. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of -18.39 and a beta of 1.75. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.46%. The ex-dividend date of this dividend is Wednesday, June 18th. UWM's dividend payout ratio (DPR) is presently -307.69%.

Analyst Ratings Changes

A number of analysts have commented on UWMC shares. Keefe, Bruyette & Woods lowered their price target on UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a research report on Wednesday. UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Wedbush reissued a "neutral" rating and set a $6.50 price objective on shares of UWM in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $6.86.

Check Out Our Latest Stock Report on UWMC

About UWM

(Get Free Report)

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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Earnings History for UWM (NYSE:UWMC)

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