Brokerages Expect Western Asset Mortgage Capital Corp (WMC) to Post $0.32 EPS

Equities analysts expect Western Asset Mortgage Capital Corp (NYSE:WMC) to post $0.32 earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Western Asset Mortgage Capital’s earnings. Western Asset Mortgage Capital reported earnings of $0.34 per share during the same quarter last year, which suggests a negative year over year growth rate of 5.9%. The business is expected to report its next quarterly earnings report on Monday, May 6th.

On average, analysts expect that Western Asset Mortgage Capital will report full-year earnings of $1.29 per share for the current year. For the next fiscal year, analysts forecast that the firm will post earnings of $1.30 per share. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Western Asset Mortgage Capital.

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods began coverage on shares of Western Asset Mortgage Capital in a research report on Sunday, March 17th. They set a “market perform” rating and a $10.50 price objective on the stock. Zacks Investment Research upgraded shares of Western Asset Mortgage Capital from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Thursday, March 21st.

In other news, insider Dennis Joseph Mcnamara acquired 3,446 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $10.34 per share, for a total transaction of $35,631.64. Following the completion of the transaction, the insider now directly owns 5,204 shares in the company, valued at approximately $53,809.36. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.51% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Western Asset Mortgage Capital by 16.7% in the fourth quarter. BlackRock Inc. now owns 4,811,162 shares of the financial services provider’s stock valued at $40,125,000 after acquiring an additional 689,764 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Western Asset Mortgage Capital by 48.7% in the 3rd quarter. Renaissance Technologies LLC now owns 2,019,910 shares of the financial services provider’s stock valued at $20,239,000 after buying an additional 661,810 shares during the period. Vanguard Group Inc grew its position in shares of Western Asset Mortgage Capital by 14.1% during the 3rd quarter. Vanguard Group Inc now owns 2,080,151 shares of the financial services provider’s stock valued at $20,843,000 after buying an additional 257,111 shares during the last quarter. Vanguard Group Inc. raised its stake in Western Asset Mortgage Capital by 14.1% during the third quarter. Vanguard Group Inc. now owns 2,080,151 shares of the financial services provider’s stock worth $20,843,000 after acquiring an additional 257,111 shares during the period. Finally, BlueMountain Capital Management LLC bought a new position in Western Asset Mortgage Capital in the third quarter worth about $2,505,000. 46.93% of the stock is currently owned by institutional investors and hedge funds.

WMC stock traded up $0.05 during midday trading on Monday, hitting $10.37. The company’s stock had a trading volume of 235,400 shares, compared to its average volume of 331,493. The company has a debt-to-equity ratio of 7.71, a current ratio of 683.24 and a quick ratio of 683.24. Western Asset Mortgage Capital has a 12 month low of $8.26 and a 12 month high of $11.38. The company has a market capitalization of $496.60 million, a price-to-earnings ratio of 7.63 and a beta of 0.74.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 11.96%. The ex-dividend date of this dividend is Friday, March 29th. Western Asset Mortgage Capital’s dividend payout ratio (DPR) is presently 91.18%.

Western Asset Mortgage Capital Company Profile

Western Asset Mortgage Capital Corporation operates as a real estate investment trust in the United States. It focuses on investing in, financing, and managing a portfolio of agency and non-agency residential mortgage-backed securities and commercial mortgage-backed securities, residential whole-loans, residential bridge loans, securitized commercial loans, and other financial assets.

See Also: How much money do you need to begin day trading?

Get a free copy of the Zacks research report on Western Asset Mortgage Capital (WMC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Western Asset Mortgage Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Asset Mortgage Capital and related companies with MarketBeat.com's FREE daily email newsletter.