UWM (NYSE:UWMC) Releases Quarterly Earnings Results

UWM (NYSE:UWMC - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.29), Zacks reports.

UWM Stock Down 10.0 %

Shares of NYSE UWMC traded down $0.48 during trading hours on Tuesday, hitting $4.30. The company had a trading volume of 2,652,481 shares, compared to its average volume of 2,942,382. UWM has a 1-year low of $4.15 and a 1-year high of $9.74. The stock has a market capitalization of $6.86 billion, a P/E ratio of -18.59 and a beta of 1.75. The firm's 50 day moving average is $5.32 and its 200-day moving average is $5.87. 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.31%. The ex-dividend date was Thursday, March 20th. UWM's dividend payout ratio is currently 500.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised UWM from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $6.50 to $7.50 in a research note on Monday, March 3rd. Wedbush restated a "neutral" rating and set a $6.50 price objective on shares of UWM in a research note on Monday, March 3rd. Finally, UBS Group raised shares of UWM from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $4.75 to $4.50 in a research note on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $7.21.

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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