Zacks Investment Research upgraded shares of Nationstar Mortgage (NYSE:NSM) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The firm currently has $21.00 price target on the financial services provider’s stock.
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. “
NSM has been the subject of several other reports. Piper Jaffray Companies restated a hold rating and issued a $18.00 price objective on shares of Nationstar Mortgage in a report on Thursday, January 11th. ValuEngine lowered shares of Nationstar Mortgage from a strong-buy rating to a buy rating in a report on Thursday, November 9th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $20.00 price objective on shares of Nationstar Mortgage in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $18.78.
Nationstar Mortgage (NYSE:NSM) traded up $0.21 during trading on Tuesday, hitting $18.87. 308,156 shares of the stock were exchanged, compared to its average volume of 310,152. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 6.26. The stock has a market capitalization of $1,840.00, a price-to-earnings ratio of 10.20 and a beta of 1.41. Nationstar Mortgage has a one year low of $14.67 and a one year high of $20.71.
Nationstar Mortgage (NYSE:NSM) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The company had revenue of $406.00 million during the quarter, compared to analyst estimates of $481.67 million. Nationstar Mortgage had a net margin of 9.34% and a return on equity of 8.88%. During the same period in the prior year, the business posted $0.52 earnings per share. sell-side analysts anticipate that Nationstar Mortgage will post 1.5 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Nationstar Mortgage by 16.5% during the second quarter. Vanguard Group Inc. now owns 3,063,878 shares of the financial services provider’s stock valued at $54,813,000 after purchasing an additional 434,111 shares in the last quarter. Rubric Capital Management LP increased its stake in shares of Nationstar Mortgage by 14.8% during the third quarter. Rubric Capital Management LP now owns 923,774 shares of the financial services provider’s stock valued at $17,154,000 after purchasing an additional 119,137 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Nationstar Mortgage by 44.4% during the third quarter. Dimensional Fund Advisors LP now owns 895,132 shares of the financial services provider’s stock valued at $16,622,000 after purchasing an additional 275,248 shares in the last quarter. FMR LLC increased its stake in shares of Nationstar Mortgage by 73.5% during the second quarter. FMR LLC now owns 683,532 shares of the financial services provider’s stock valued at $12,228,000 after purchasing an additional 289,637 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Nationstar Mortgage by 2,308.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 681,716 shares of the financial services provider’s stock valued at $12,196,000 after purchasing an additional 653,407 shares in the last quarter. 98.42% of the stock is owned by institutional investors and hedge funds.
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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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