FY2022 EPS Estimates for loanDepot, Inc. Lowered by Analyst (NYSE:LDI)

loanDepot, Inc. (NYSE:LDI – Get Rating) – Research analysts at Jefferies Financial Group reduced their FY2022 earnings per share estimates for loanDepot in a report issued on Tuesday, April 19th. Jefferies Financial Group analyst K. Joseph now expects that the company will earn $0.52 per share for the year, down from their prior forecast of $0.74. Jefferies Financial Group also issued estimates for loanDepot’s FY2023 earnings at $1.18 EPS.

Several other brokerages have also recently issued reports on LDI. The Goldman Sachs Group dropped their price objective on loanDepot from $4.80 to $3.90 and set a “neutral” rating on the stock in a research note on Monday, April 4th. Raymond James cut loanDepot from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 2nd. JMP Securities dropped their target price on loanDepot from $12.00 to $7.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 17th. Piper Sandler dropped their target price on loanDepot from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. Finally, Citigroup lowered loanDepot from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $12.00 to $5.00 in a report on Wednesday, February 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, loanDepot has a consensus rating of “Hold” and an average price target of $8.34.

LDI opened at $3.39 on Thursday. loanDepot has a one year low of $3.33 and a one year high of $21.75. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 3.85 and a beta of 1.10. The stock’s 50 day moving average price is $3.98 and its 200-day moving average price is $4.94. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.11 and a current ratio of 1.11.

loanDepot (NYSE:LDI – Get Rating) last released its earnings results on Monday, January 31st. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The business had revenue of $705.03 million for the quarter, compared to the consensus estimate of $700.87 million. loanDepot had a net margin of 3.05% and a return on equity of 33.38%.

Large investors have recently bought and sold shares of the company. Capstone Financial Advisors Inc. acquired a new stake in shares of loanDepot during the 3rd quarter valued at about $68,000. Raymond James Financial Services Advisors Inc. acquired a new stake in loanDepot in the 3rd quarter worth about $85,000. Barclays PLC acquired a new stake in loanDepot in the 3rd quarter worth about $86,000. CIBC Asset Management Inc acquired a new stake in loanDepot in the 3rd quarter worth about $87,000. Finally, Goldman Sachs Group Inc. boosted its holdings in loanDepot by 18.1% in the 3rd quarter. Goldman Sachs Group Inc. now owns 14,981 shares of the company’s stock worth $101,000 after buying an additional 2,296 shares during the last quarter. Hedge funds and other institutional investors own 57.97% of the company’s stock.

In other news, CFO Patrick J. Flanagan sold 75,000 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $3.88, for a total transaction of $291,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony Li Hsieh bought 1,010,318 shares of the company’s stock in a transaction dated Monday, February 7th. The shares were acquired at an average price of $3.64 per share, for a total transaction of $3,677,557.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,258,477 shares of company stock worth $4,610,817 and have sold 225,000 shares worth $858,000.

The business also recently declared a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Monday, April 4th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 9.44%. The ex-dividend date was Friday, April 1st. loanDepot’s dividend payout ratio is currently 36.36%.

About loanDepot (Get Rating)

loanDepot, Inc engages in the origination and servicing of conventional and government mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, home equity, Federal Housing Administration, and VA loans. The company also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.

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