PennyMac Financial Services, Inc. (NYSE:PFSI) is reporting third quarter earnings results on Thursday 5th November 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 5.34 per share.
For the full year, analysts predict revenues of $ 3277.17 million, while looking forward to income of $ 17.00 per share.
Previous Quarter Performance
PennyMac Financial Services, Inc. outlined income for the second quarter of $ 4.39 per share, from the revenue of $ 821.63 million. The quarterly earnings increased 377.17 percent while revenues extended 171.18 percent compared with the same quarter last year.
Street analysts expected PennyMac Financial Services, Inc. to report income of $ 2.89 per share on revenue of $ 661.29 million for the second quarter. The bottom line results beat street analysts by $ 1.5 or 51.90 percent, at the same time, top line results outshined analysts by $ 160.34 million or 24.25 percent.
Stock Performance
Shares of PennyMac Financial Services, Inc. traded up $ 2.98 or 5.67 percent on Wednesday, reaching $ 55.50 with volume of 1.00 million shares. PennyMac Financial Services, Inc. has traded high as $ 56.30 and has cracked $ 52.50 on the downward trend
The closing price of $ 55.50, representing a 299.70 % increase from the 52 week low of $ 13.14 and a 22.5 % decrease over the 52 week high of $ 67.77.
The company has a market capital of $ 4.02 billion and is part of the Financial Services sector and Specialty Finance industry.
Recent Analyst recommendations
- On 9th October 2020, maintained by Piper Sandler at Overweight rating, with $ 79.00 target price.
- On 9th October 2020, maintained by Barclays at Overweight rating, with $ 75.00 target price.
- On 18th September 2020, maintained by Credit Suisse Group at Outperform rating, with $ 67.00 target price.
PennyMac Financial Services, Inc., through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.
