Equities Analysts Issue Forecasts for UWM Holdings Co.’s Q1 2023 Earnings (NYSE:UWMC)

UWM Holdings Co. (NYSE:UWMC – Get Rating) – Equities researchers at Wedbush raised their Q1 2023 EPS estimates for shares of UWM in a note issued to investors on Thursday, March 2nd. Wedbush analyst J. Mccanless now forecasts that the company will earn $0.04 per share for the quarter, up from their prior forecast of $0.01. The consensus estimate for UWM’s current full-year earnings is $0.26 per share. Wedbush also issued estimates for UWM’s FY2023 earnings at $0.25 EPS.

A number of other analysts also recently weighed in on UWMC. Keefe, Bruyette & Woods raised shares of UWM from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $3.50 to $4.00 in a research report on Thursday. UBS Group set a $4.00 target price on shares of UWM in a research report on Wednesday, November 23rd. JMP Securities upped their target price on shares of UWM from $5.00 to $5.50 and gave the stock a “market outperform” rating in a research report on Thursday. Barclays increased their price objective on shares of UWM from $2.50 to $3.00 in a research report on Monday, January 9th. Finally, The Goldman Sachs Group increased their price objective on shares of UWM from $3.30 to $3.75 and gave the company a “neutral” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.91.

UWM Stock Up 0.4 %

NYSE:UWMC opened at $4.82 on Monday. The firm’s 50-day moving average price is $4.13 and its 200-day moving average price is $3.86. The company has a market capitalization of $448.74 million, a PE ratio of 11.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.77 and a quick ratio of 1.79. UWM has a 1-year low of $2.84 and a 1-year high of $5.03.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 11th. Shareholders of record on Friday, March 10th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 8.30%. The ex-dividend date is Thursday, March 9th. UWM’s dividend payout ratio is currently 97.56%.

Hedge Funds Weigh In On UWM

Several hedge funds and other institutional investors have recently bought and sold shares of UWMC. State Street Corp lifted its stake in UWM by 46.6% during 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. Renaissance Technologies LLC lifted its stake in shares of UWM by 45.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,509,100 shares of the company’s stock worth $5,342,000 after purchasing an additional 472,600 shares during the period. Vanguard Group Inc. lifted its stake in shares of UWM by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 8,332,640 shares of the company’s stock worth $37,747,000 after purchasing an additional 401,658 shares during the period. Alps Advisors Inc. bought a new position in shares of UWM in the 2nd quarter worth approximately $1,410,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in shares of UWM in the 3rd quarter worth approximately $1,124,000. Institutional investors own 37.73% of the company’s stock.

UWM Company Profile

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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.