UWM Holdings Co. (NYSE:UWMC) Expected to Announce Quarterly Sales of $526.47 Million

Wall Street brokerages expect UWM Holdings Co. (NYSE:UWMC – Get Rating) to announce $526.47 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for UWM’s earnings, with estimates ranging from $428.70 million to $661.00 million. UWM posted sales of $1.19 billion during the same quarter last year, which suggests a negative year over year growth rate of 55.8%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that UWM will report full year sales of $2.13 billion for the current fiscal year, with estimates ranging from $2.12 billion to $2.14 billion. For the next year, analysts anticipate that the business will report sales of $2.53 billion, with estimates ranging from $2.48 billion to $2.59 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow UWM.

UWM (NYSE:UWMC – Get Rating) last posted its quarterly earnings data on Tuesday, March 1st. The company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). The firm had revenue of $605.46 million during the quarter, compared to the consensus estimate of $645.23 million. UWM had a net margin of 3.31% and a return on equity of 24.62%.

A number of research analysts have weighed in on the stock. Barclays dropped their price objective on shares of UWM from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 3rd. The Goldman Sachs Group reduced their price objective on UWM from $5.25 to $4.60 and set a “neutral” rating for the company in a report on Monday, April 4th. UBS Group lowered UWM from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a report on Wednesday, February 23rd. BTIG Research began coverage on UWM in a research report on Wednesday, April 20th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research downgraded UWM from a “buy” rating to a “hold” rating in a research report on Friday, March 4th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.12.

In related news, EVP Laura Lawson sold 6,035 shares of the stock in a transaction dated Wednesday, February 2nd. The shares were sold at an average price of $4.77, for a total value of $28,786.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tim Forrester sold 6,342 shares of the business’s stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $4.77, for a total transaction of $30,251.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,867 shares of company stock valued at $94,708.

Several hedge funds have recently added to or reduced their stakes in UWMC. Allegheny Financial Group LTD bought a new position in UWM during the 4th quarter valued at approximately $30,000. Captrust Financial Advisors purchased a new stake in shares of UWM in the third quarter worth $32,000. WealthPLAN Partners LLC purchased a new stake in shares of UWM in the fourth quarter worth $52,000. Brookstone Capital Management purchased a new stake in shares of UWM in the first quarter worth $69,000. Finally, CTC Capital Management LLC purchased a new stake in shares of UWM in the fourth quarter worth $72,000. Hedge funds and other institutional investors own 27.90% of the company’s stock.

UWM stock opened at $3.65 on Monday. UWM has a 1-year low of $3.63 and a 1-year high of $10.98. The company has a market capitalization of $337.73 million, a price-to-earnings ratio of 5.45 and a beta of 0.96. The firm has a fifty day simple moving average of $4.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.28 and a quick ratio of 1.28.

The business also recently announced a quarterly dividend, which was paid on Monday, April 11th. Stockholders of record on Monday, March 14th were given a $0.10 dividend. The ex-dividend date was Friday, March 11th. This represents a $0.40 annualized dividend and a dividend yield of 10.96%. UWM’s dividend payout ratio is 59.70%.

About UWM (Get Rating)

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.

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