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.
ILLEGAL ACTIVITY NOTICE: This story was first published by Stock Observer and is owned by of Stock Observer. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at https://www.thestockobserver.com/2017/06/20/nationstar-mortgage-holdings-inc-nsm-expected-to-announce-quarterly-sales-of-510-00-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nationstar Mortgage Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nationstar Mortgage Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.