Stocks: Brokers Issue Forecasts for Nationstar Mortgage Holdings Inc’s FY2017 Earnings (NSM)

Stocks: Brokers Issue Forecasts for Nationstar Mortgage Holdings Inc’s FY2017 Earnings (NSM)

Nationstar Mortgage Holdings Inc (NYSE:NSM) – Stock analysts at Oppenheimer Holdings cut their FY2017 earnings per share (EPS) estimates for shares of Nationstar Mortgage Holdings in a report released on Monday. Oppenheimer Holdings analyst B. Chittenden now expects that the financial services provider will post earnings per share of $1.54 for the year, down from their prior forecast of $1.89. Oppenheimer Holdings currently has a “Buy” rating and a $19.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Piper Jaffray Companies cut shares of Nationstar Mortgage Holdings from a “neutral” rating to an “underweight” rating and set a $15.00 price objective for the company. in a research report on Wednesday, March 8th. Compass Point raised shares of Nationstar Mortgage Holdings from a “sell” rating to a “neutral” rating in a research report on Tuesday, April 4th. Zacks Investment Research raised shares of Nationstar Mortgage Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Wedbush began coverage on Nationstar Mortgage Holdings in a research note on Monday, March 27th. They set an “outperform” rating and a $19.00 target price for the company. Finally, Instinet reaffirmed a “buy” rating and issued a $18.00 price objective (down previously from $20.00) on shares of Nationstar Mortgage Holdings in a research note on Friday, March 24th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.86.

Shares of Nationstar Mortgage Holdings (NYSE:NSM) traded down 0.940% on Thursday, hitting $17.395. 134,821 shares of the stock traded hands. The firm has a market capitalization of $1.70 billion, a PE ratio of 11.318 and a beta of 0.90. Nationstar Mortgage Holdings has a 52 week low of $10.19 and a 52 week high of $19.83. The firm’s 50 day moving average is $16.14 and its 200 day moving average is $17.19.

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 the Thomson Reuters’ consensus estimate of $0.33 by $0.03. Nationstar Mortgage Holdings had a positive return on equity of 10.50% and a negative net margin of 5.80%. The business had revenue of $427 million for the quarter, compared to analyst estimates of $455.18 million. During the same quarter last year, the company earned $0.27 EPS. The business’s revenue for the quarter was up 61.9% compared to the same quarter last year.

Several large investors have recently made changes to their positions in NSM. Renaissance Technologies LLC raised its stake in shares of Nationstar Mortgage Holdings by 79.3% in the fourth quarter. Renaissance Technologies LLC now owns 201,200 shares of the financial services provider’s stock valued at $3,634,000 after buying an additional 89,000 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Nationstar Mortgage Holdings by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 167,087 shares of the financial services provider’s stock valued at $2,475,000 after buying an additional 13,218 shares in the last quarter. Rubric Capital Management LP acquired a new stake in shares of Nationstar Mortgage Holdings during the fourth quarter valued at about $17,609,000. Hodges Capital Management Inc. acquired a new stake in shares of Nationstar Mortgage Holdings during the fourth quarter valued at about $8,817,000. Finally, State Street Corp raised its stake in shares of Nationstar Mortgage Holdings by 5.7% in the fourth quarter. State Street Corp now owns 626,770 shares of the financial services provider’s stock valued at $11,316,000 after buying an additional 33,928 shares in the last quarter.

In other Nationstar Mortgage Holdings news, Director Michael D. Malone bought 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The stock was purchased at an average cost of $15.95 per share, with a total value of $478,500.00. Following the transaction, the director now directly owns 66,059 shares in the company, valued at approximately $1,053,641.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 67.20% 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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