Credit Suisse (SIX:CSGN) analyst Douglas Harter reiterated a Buy rating on PennyMac Financial (NYSE:PFSI) on Thursday, setting a price target of $67, which is approximately 16.30% above the present share price of $57.61.
Harter expects PennyMac Financial to post earnings per share (EPS) of $4.53 for the third quarter of 2020.
The current consensus among 6 TipRanks analysts is for a Strong Buy rating of shares in PennyMac Financial, with an average price target of $63.6.
The analysts price targets range from a high of $70 to a low of $53.
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $821.63 million and a net profit of $491.63 million. The company's market cap is $4.18 billion.
According to TipRanks.com, Credit Suisse analyst Douglas Harter is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 12.1% and a 65.28% success rate.
PennyMac Financial Services, Inc. is a holding company, which engages in the mortgage banking and investment management activities. It operates through the following segments: Production, Servicing, and Investment Management. The Production segment includes mortgage loan origination, acquisition, and sale activities. The Servicing segment servicing of newly originated mortgage loans; and execution and management of early buyout transactions. The Investment Management segment consists of sourcing, performing diligence, bidding and closing investment asset acquisitions, managing correspondent production activities, and managing the acquired assets. The company was founded by Stanford L. Kurland in 2008 and is headquartered in Westlake Village, CA.