Barclays (LON:BARC) analyst Mark Devries maintained a Hold rating on PennyMac Mortgage (NYSE:PMT) on Friday, setting a price target of $17, which is approximately 2.30% below the present share price of $17.4.
Devries expects PennyMac Mortgage to post earnings per share (EPS) of $4.59 for the fourth quarter of 2020.
The current consensus among 7 TipRanks analysts is for a Moderate Buy rating of shares in PennyMac Mortgage, with an average price target of $19.
The analysts price targets range from a high of $21 to a low of $17.
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $475.89 million and a net profit of $0. The company's market cap is $1.66 billion.
According to TipRanks.com, Barclays analyst Mark Devries is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 9.6% and a 61.97% success rate.
PennyMac Mortgage Investment Trust is a finance company, which invests primarily in residential mortgage loans and mortgage-related assets. It operates through following segments: Correspondent Production, Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Corporate Activities. The Correspondent Production segment deals with purchasing, pooling, and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities in capital markets. The Credit Sensitive Strategies segment includes investments in distressed mortgage loans, real estate acquired in settlement of mortgage loans, real estate held for investment, credit risk transfer agreements, non-agency subordinated bonds, and small balance commercial real estate mortgage loans. The Interest Rate Sensitive Strategies segment focuses on investments in mortgage servicing rights, excess servicing spread, agency and senior non-agency mortgage-backed securities, and the related interest rate hedging activities. The Corporate segment consists of certain interest income, management fee, and corporate expense amounts. The company was founded by Stanford L. Kurland on May 18, 2009 and is headquartered in Westlake Village, CA.