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Earnings Estimates Moving Higher for PennyMac Mortgage (PMT): Time to Buy?

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PennyMac Mortgage Investment Trust (PMT - Free Report) is a real estate investment trust that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on PMT’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Marvell Technology could be a solid choice for investors.

Current Quarter Estimates for PMT

In the past 30 days, 2 estimates have gone higher for PennyMac Mortgage while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 33 cents a share 30 days ago, to 40 cents today, a move of 21.2%.

Current Year Estimates for PMT

Meanwhile, PennyMac Mortgage’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month while none have gone lower in the same time frame. The consensus estimate trend has also seen a boost for this time frame, increasing from 88 cents per share 30 days ago to 99 cents per share today, an increase of 12.5%.  

PENNYMAC MORTGE Price and Consensus


Bottom Line

The stock has also started to move higher lately, adding 7.7% per the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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