UWM Holdings Co. (NYSE:UWMC) Forecasted to Earn Q3 2022 Earnings of $0.03 Per Share

UWM Holdings Co. (NYSE:UWMCGet Rating) – Wedbush lowered their Q3 2022 earnings per share estimates for shares of UWM in a research report issued on Tuesday, May 17th. Wedbush analyst H. Coffey now forecasts that the company will earn $0.03 per share for the quarter, down from their prior estimate of $0.13. Wedbush currently has a “Neutral” rating and a $5.00 target price on the stock. Wedbush also issued estimates for UWM’s Q4 2022 earnings at $0.04 EPS and FY2022 earnings at $0.15 EPS.

Other analysts have also issued research reports about the company. The Goldman Sachs Group lowered their price target on UWM from $5.25 to $4.60 and set a “neutral” rating for the company in a report on Monday, April 4th. BTIG Research initiated coverage on UWM in a report on Wednesday, April 20th. They issued a “neutral” rating for the company. Barclays cut their price target on UWM from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 3rd. Zacks Investment Research downgraded UWM from a “buy” rating to a “hold” rating in a report on Friday, March 4th. Finally, UBS Group cut shares of UWM from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a report on Wednesday, February 23rd. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, UWM currently has an average rating of “Hold” and an average target price of $6.85.

Shares of UWMC stock opened at $4.01 on Thursday. The company has a market capitalization of $371.05 million, a P/E ratio of 7.16 and a beta of 1.05. The company’s 50-day simple moving average is $4.06 and its two-hundred day simple moving average is $5.19. UWM has a one year low of $3.38 and a one year high of $10.98. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.85 and a quick ratio of 1.85.

UWM (NYSE:UWMCGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.14. UWM had a net margin of 2.78% and a return on equity of 13.31%. During the same period in the previous year, the firm earned $0.71 EPS.

Large investors have recently bought and sold shares of the stock. Diameter Capital Partners LP purchased a new stake in shares of UWM during the first quarter worth about $36,053,000. BlackRock Inc. grew its holdings in shares of UWM by 40.2% during the fourth quarter. BlackRock Inc. now owns 4,440,979 shares of the company’s stock valued at $26,291,000 after buying an additional 1,273,712 shares during the last quarter. Integrated Investment Consultants LLC increased its position in shares of UWM by 8,171.8% in the 4th quarter. Integrated Investment Consultants LLC now owns 1,044,234 shares of the company’s stock valued at $6,182,000 after acquiring an additional 1,031,610 shares during the period. State Street Corp increased its position in shares of UWM by 46.6% in the 1st quarter. State Street Corp now owns 1,755,053 shares of the company’s stock valued at $8,123,000 after acquiring an additional 558,245 shares during the period. Finally, Balyasny Asset Management LLC raised its stake in UWM by 119.1% in the 3rd quarter. Balyasny Asset Management LLC now owns 88,738 shares of the company’s stock worth $617,000 after acquiring an additional 553,738 shares during the last quarter. 33.06% of the stock is owned by institutional investors.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Shareholders of record on Tuesday, June 21st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.98%. The ex-dividend date is Friday, June 17th. UWM’s payout ratio is 71.43%.

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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Earnings History and Estimates for UWM (NYSE:UWMC)

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