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PennyMac (PFSI) Crumbles: StockFalls by 6.3%
March 26, 2014

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PennyMac Financial Services, Inc. (PFSI - Free Report) saw a big move last session, as the company’s shares fell by over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $17.26 to $18.68 in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the financial services company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
PFSI currently has a Zacks Rank #4 (Sell) while its Earnings ESP is positive.
Investors interested in the finance industry may consider better-ranked stocks like Atlas Financial Holdings, Inc. (AFH - Free Report) , AmTrust Financial Services, Inc. (AFSI - Free Report) and Apollo Residential Mortgage, Inc. . All these stocks carry a Zacks Rank #1 (Strong Buy).
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