Nationstar Mortgage Holdings Inc. (NSM) Expected to Announce Quarterly Sales of $510.00 Million

Wall Street brokerages expect Nationstar Mortgage Holdings Inc. (NYSE:NSM) to announce sales of $510.00 million for the current quarter, Zacks reports. Two analysts have issued estimates for Nationstar Mortgage Holdings’ earnings, with the lowest sales estimate coming in at $500.50 million and the highest estimate coming in at $519.50 million. Nationstar Mortgage Holdings posted sales of $339.00 million during the same quarter last year, which suggests a positive year over year growth rate of 50.4%. The business is expected to report its next earnings report on Wednesday, August 2nd.

On average, analysts expect that Nationstar Mortgage Holdings will report full-year sales of $510.00 million for the current financial year, with estimates ranging from $1.81 billion to $1.98 billion. For the next year, analysts expect that the company will post sales of $2.07 billion per share, with estimates ranging from $2.03 billion to $2.10 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Nationstar Mortgage Holdings.

Nationstar Mortgage Holdings (NYSE:NSM) last announced its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $427 million during the quarter, compared to the consensus estimate of $455.18 million. Nationstar Mortgage Holdings had a net margin of 7.30% and a return on equity of 10.61%. The business’s revenue was up 61.9% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share.

Several research firms have recently commented on NSM. FBR & Co boosted their price objective on Nationstar Mortgage Holdings from $15.75 to $17.00 and gave the company a “market perform” rating in a report on Thursday, February 23rd. Barclays PLC downgraded Nationstar Mortgage Holdings from an “equal weight” rating to an “underweight” rating and set a $15.00 price objective for the company. in a report on Thursday, February 23rd. Credit Suisse Group restated a “buy” rating and set a $22.00 price objective on shares of Nationstar Mortgage Holdings in a report on Friday, March 3rd. Zacks Investment Research downgraded Nationstar Mortgage Holdings from a “hold” rating to a “sell” rating in a report on Friday, February 24th. Finally, Piper Jaffray Companies downgraded Nationstar Mortgage Holdings from a “neutral” rating to an “underweight” rating and set a $15.00 price objective for the company. in a report on Wednesday, March 8th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $17.86.

Shares of Nationstar Mortgage Holdings (NYSE NSM) traded down 1.48% during mid-day trading on Friday, hitting $17.99. The stock had a trading volume of 37,666 shares. The stock’s 50-day moving average is $17.11 and its 200-day moving average is $17.42. The firm has a market capitalization of $1.76 billion, a PE ratio of 11.70 and a beta of 1.54. Nationstar Mortgage Holdings has a 1-year low of $10.19 and a 1-year high of $19.83.

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In related news, Director Michael D. Malone purchased 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The stock was acquired at an average price of $15.95 per share, for a total transaction of $478,500.00. Following the completion of the acquisition, the director now owns 66,059 shares of the company’s stock, valued at approximately $1,053,641.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 67.20% of the company’s stock.

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Nationstar Mortgage Holdings during the first quarter valued at about $103,000. Russell Investments Group Ltd. bought a new stake in shares of Nationstar Mortgage Holdings during the fourth quarter valued at about $134,000. Pacad Investment Ltd. increased its stake in shares of Nationstar Mortgage Holdings by 2.3% in the fourth quarter. Pacad Investment Ltd. now owns 8,600 shares of the financial services provider’s stock valued at $155,000 after buying an additional 192 shares during the period. Two Sigma Securities LLC bought a new stake in shares of Nationstar Mortgage Holdings during the first quarter valued at about $161,000. Finally, Koch Industries Inc. bought a new stake in shares of Nationstar Mortgage Holdings during the first quarter valued at about $182,000. Institutional investors and hedge funds own 99.91% of the company’s stock.

About Nationstar Mortgage Holdings

Nationstar Mortgage Holdings Inc provides servicing, origination and transaction based services principally to single-family residences throughout the United States. The Company operates through three segments: Servicing, Originations and Xome. The Company provides residential loan services in the United States.

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