Nationstar Mortgage (NYSE:NSM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Nationstar Mortgage Holdings, Inc. is a mortgage lender. It services loans throughout the United States and originates primarily conventional agency and government residential mortgage loans and also offers a diverse array of complementary services for mortgage investors. Nationstar Mortgage Holdings, Inc. is headquartered in Lewisville, Texas. “
A number of other brokerages have also weighed in on NSM. ValuEngine upgraded Nationstar Mortgage from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Piper Jaffray Companies lowered Nationstar Mortgage from a “neutral” rating to an “underweight” rating and set a $13.50 price target on the stock. in a research note on Tuesday, February 13th. Credit Suisse Group dropped their price target on Nationstar Mortgage from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. Finally, Barclays restated a “sell” rating and set a $19.00 price target (up previously from $18.00) on shares of Nationstar Mortgage in a research note on Friday, March 2nd. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.69.
Nationstar Mortgage (NYSE:NSM) last posted its earnings results on Thursday, March 1st. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. Nationstar Mortgage had a return on equity of 9.24% and a net margin of 1.82%. The company had revenue of $437.00 million for the quarter, compared to analyst estimates of $458.70 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was down 44.6% compared to the same quarter last year. equities research analysts expect that Nationstar Mortgage will post 2.15 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of NSM. Dimensional Fund Advisors LP grew its stake in shares of Nationstar Mortgage by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 619,884 shares of the financial services provider’s stock worth $11,090,000 after acquiring an additional 259,460 shares during the last quarter. Voya Investment Management LLC boosted its position in Nationstar Mortgage by 14.7% in the second quarter. Voya Investment Management LLC now owns 16,775 shares of the financial services provider’s stock valued at $300,000 after buying an additional 2,156 shares during the last quarter. State Street Corp boosted its position in Nationstar Mortgage by 3.7% in the second quarter. State Street Corp now owns 649,148 shares of the financial services provider’s stock valued at $11,611,000 after buying an additional 22,878 shares during the last quarter. First Trust Advisors LP boosted its position in Nationstar Mortgage by 99.6% in the third quarter. First Trust Advisors LP now owns 90,805 shares of the financial services provider’s stock valued at $1,686,000 after buying an additional 45,309 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Nationstar Mortgage by 73.2% in the third quarter. American Century Companies Inc. now owns 191,400 shares of the financial services provider’s stock valued at $3,554,000 after buying an additional 80,909 shares during the last quarter. Institutional investors and hedge funds own 98.79% of the company’s stock.
Nationstar Mortgage Company Profile
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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