Zacks: Brokerages Anticipate Western Asset Mortgage Capital Corp (WMC) to Post $0.32 EPS

Equities research analysts predict that Western Asset Mortgage Capital Corp (NYSE:WMC) will post earnings per share of $0.32 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Western Asset Mortgage Capital’s earnings. Western Asset Mortgage Capital posted earnings of $0.36 per share in the same quarter last year, which indicates a negative year over year growth rate of 11.1%. The business is expected to report its next quarterly earnings results on Monday, August 5th.

On average, analysts expect that Western Asset Mortgage Capital will report full year earnings of $1.28 per share for the current year. For the next year, analysts expect that the firm will report earnings of $1.29 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Western Asset Mortgage Capital.

Western Asset Mortgage Capital (NYSE:WMC) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. Western Asset Mortgage Capital had a net margin of 13.99% and a return on equity of 11.99%. The business had revenue of $15.63 million during the quarter, compared to the consensus estimate of $20.90 million. During the same period last year, the business posted $0.34 EPS. Western Asset Mortgage Capital’s revenue was down 8.7% on a year-over-year basis.

WMC has been the subject of several research reports. Keefe, Bruyette & Woods initiated 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 for the company. Zacks Investment Research downgraded shares of Western Asset Mortgage Capital from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th.

NYSE:WMC traded up $0.07 during mid-day trading on Thursday, hitting $10.05. The stock had a trading volume of 11,589 shares, compared to its average volume of 451,243. Western Asset Mortgage Capital has a twelve month low of $8.26 and a twelve month high of $11.38. The company has a market capitalization of $529.58 million, a P/E ratio of 7.38 and a beta of 0.74. The company has a debt-to-equity ratio of 7.51, a quick ratio of 700.59 and a current ratio of 700.59.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 1st were given a dividend of $0.31 per share. The ex-dividend date was Friday, March 29th. This represents a $1.24 annualized dividend and a yield of 12.34%. Western Asset Mortgage Capital’s dividend payout ratio (DPR) is presently 91.18%.

In other Western Asset Mortgage Capital news, insider Dennis Joseph Mcnamara bought 3,446 shares of the stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $10.34 per share, with a total value of $35,631.64. Following the completion of the acquisition, the insider now owns 5,204 shares of the company’s stock, valued at $53,809.36. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jennifer Murphy bought 10,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average cost of $9.98 per share, for a total transaction of $99,800.00. Following the completion of the acquisition, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $848,300. The disclosure for this purchase can be found here. Company insiders own 0.51% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. LSV Asset Management increased its holdings in shares of Western Asset Mortgage Capital by 27.1% during the fourth quarter. LSV Asset Management now owns 295,900 shares of the financial services provider’s stock worth $2,467,000 after purchasing an additional 63,000 shares during the period. Strs Ohio increased its stake in Western Asset Mortgage Capital by 15.6% in the fourth quarter. Strs Ohio now owns 12,600 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 1,700 shares during the last quarter. Morgan Stanley increased its stake in Western Asset Mortgage Capital by 58.2% in the third quarter. Morgan Stanley now owns 421,963 shares of the financial services provider’s stock valued at $4,228,000 after acquiring an additional 155,250 shares during the last quarter. Martingale Asset Management L P increased its stake in Western Asset Mortgage Capital by 33.4% in the fourth quarter. Martingale Asset Management L P now owns 215,919 shares of the financial services provider’s stock valued at $1,802,000 after acquiring an additional 54,001 shares during the last quarter. Finally, KAMES CAPITAL plc bought a new position in Western Asset Mortgage Capital in the first quarter valued at approximately $1,021,000. 48.65% of the stock is currently owned by institutional investors.

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.

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