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Why the Market Dipped But PennyMac Financial (PFSI) Gained Today
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PennyMac Financial (PFSI - Free Report) closed the latest trading day at $87, indicating a +0.75% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a rise of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.52%.
Shares of the mortgage banking and investment management company witnessed a loss of 3.47% over the previous month, beating the performance of the Finance sector with its loss of 6.38% and underperforming the S&P 500's loss of 1.66%.
Investors will be eagerly watching for the performance of PennyMac Financial in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 24, 2024. The company's earnings per share (EPS) are projected to be $2.34, reflecting a 310.53% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $422.87 million, up 39.62% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.42 per share and revenue of $1.92 billion. These totals would mark changes of +98.85% and +37.04%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for PennyMac Financial. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.29% higher within the past month. PennyMac Financial is currently a Zacks Rank #3 (Hold).
Investors should also note PennyMac Financial's current valuation metrics, including its Forward P/E ratio of 8.29. Its industry sports an average Forward P/E of 9.53, so one might conclude that PennyMac Financial is trading at a discount comparatively.
Meanwhile, PFSI's PEG ratio is currently 0.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Mortgage & Related Services was holding an average PEG ratio of 0.69 at yesterday's closing price.
The Financial - Mortgage & Related Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 187, placing it within the bottom 26% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why the Market Dipped But PennyMac Financial (PFSI) Gained Today
PennyMac Financial (PFSI - Free Report) closed the latest trading day at $87, indicating a +0.75% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a rise of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.52%.
Shares of the mortgage banking and investment management company witnessed a loss of 3.47% over the previous month, beating the performance of the Finance sector with its loss of 6.38% and underperforming the S&P 500's loss of 1.66%.
Investors will be eagerly watching for the performance of PennyMac Financial in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 24, 2024. The company's earnings per share (EPS) are projected to be $2.34, reflecting a 310.53% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $422.87 million, up 39.62% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.42 per share and revenue of $1.92 billion. These totals would mark changes of +98.85% and +37.04%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for PennyMac Financial. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.29% higher within the past month. PennyMac Financial is currently a Zacks Rank #3 (Hold).
Investors should also note PennyMac Financial's current valuation metrics, including its Forward P/E ratio of 8.29. Its industry sports an average Forward P/E of 9.53, so one might conclude that PennyMac Financial is trading at a discount comparatively.
Meanwhile, PFSI's PEG ratio is currently 0.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Mortgage & Related Services was holding an average PEG ratio of 0.69 at yesterday's closing price.
The Financial - Mortgage & Related Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 187, placing it within the bottom 26% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.