UWM Holdings Co. (NYSE:UWMC) Receives Consensus Rating of “Reduce” from Analysts

Posted by Defense World Staff on May 22nd, 2023

UWM Holdings Co. (NYSE:UWMC – Get Rating) has earned an average recommendation of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $4.22.

A number of research analysts have issued reports on UWMC shares. The Goldman Sachs Group lifted their price objective on UWM from $3.30 to $3.75 and gave the company a “neutral” rating in a research note on Thursday, March 2nd. Credit Suisse Group lifted their target price on UWM from $3.50 to $4.00 in a report on Friday, May 12th. Barclays lifted their target price on UWM from $3.50 to $4.00 in a report on Thursday, May 11th. Morgan Stanley lifted their target price on UWM from $3.50 to $5.00 in a report on Thursday, May 11th. Finally, JMP Securities lifted their target price on UWM from $5.50 to $6.50 in a report on Friday, April 28th.

UWM Stock Down 2.3 %

Shares of NYSE:UWMC opened at $5.01 on Monday. The stock has a fifty day simple moving average of $5.18 and a two-hundred day simple moving average of $4.53. The stock has a market capitalization of $466.44 million, a price-to-earnings ratio of 83.50 and a beta of 1.46. UWM has a 12-month low of $2.84 and a 12-month high of $6.35. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.88.

UWM (NYSE:UWMC – Get Rating) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.11). The company had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $431.17 million. UWM had a net margin of 0.46% and a return on equity of 14.11%. On average, research analysts anticipate that UWM will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 11th. Shareholders of record on Wednesday, June 21st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.98%. The ex-dividend date of this dividend is Tuesday, June 20th. UWM’s dividend payout ratio is presently 666.67%.

Hedge Funds Weigh In On UWM

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of UWM by 5.1% in the first quarter. Vanguard Group Inc. now owns 8,332,640 shares of the company’s stock worth $37,747,000 after buying an additional 401,658 shares in the last quarter. State Street Corp grew its stake in shares of UWM by 46.6% during the first quarter. State Street Corp now owns 1,755,053 shares of the company’s stock valued at $8,123,000 after buying an additional 558,245 shares during the last quarter. Victory Capital Management Inc. grew its stake in UWM by 6,080.7% in the first quarter. Victory Capital Management Inc. now owns 1,726,341 shares of the company’s stock worth $8,476,000 after purchasing an additional 1,698,410 shares in the last quarter. Renaissance Technologies LLC grew its stake in UWM by 0.9% in the third quarter. Renaissance Technologies LLC now owns 1,522,900 shares of the company’s stock worth $4,462,000 after purchasing an additional 13,800 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in UWM by 2.4% in the first quarter. Geode Capital Management LLC now owns 1,277,051 shares of the company’s stock worth $6,270,000 after purchasing an additional 29,401 shares in the last quarter. 37.73% of the stock is currently owned by hedge funds and other institutional investors.

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.