Western Asset Mortgage Capital Corporation (WMC) Posts Quarterly Earnings Results, Beats Expectations By $0.53 EPS

Western Asset Mortgage Capital Corporation (NYSE:WMC) released its earnings results on Tuesday, August 8th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.53, reports. The firm had revenue of $27.27 million during the quarter, compared to analyst estimates of $19.74 million. Western Asset Mortgage Capital Corporation had a net margin of 30.83% and a return on equity of 5.97%.

Shares of Western Asset Mortgage Capital Corporation (NYSE WMC) opened at 10.57 on Friday. Western Asset Mortgage Capital Corporation has a one year low of $9.43 and a one year high of $11.18. The company has a market cap of $443.08 million, a price-to-earnings ratio of 12.87 and a beta of 0.72. The company’s 50-day moving average is $10.37 and its 200-day moving average is $10.23.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, June 30th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.24 dividend on an annualized basis and a yield of 11.73%. Western Asset Mortgage Capital Corporation’s payout ratio is 151.22%.

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WMC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Western Asset Mortgage Capital Corporation from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a report on Thursday, July 27th. TheStreet upgraded shares of Western Asset Mortgage Capital Corporation from a “d” rating to a “c” rating in a report on Thursday, May 4th. JMP Securities assumed coverage on shares of Western Asset Mortgage Capital Corporation in a report on Tuesday, July 25th. They set a “market perform” rating for the company. Finally, BidaskClub lowered shares of Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $11.00.

In related news, insider Jennifer Murphy bought 5,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average price of $10.22 per share, with a total value of $51,100.00. Following the completion of the transaction, the insider now directly owns 37,500 shares of the company’s stock, valued at approximately $383,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.36% of the company’s stock.

About Western Asset Mortgage Capital Corporation

Western Asset Mortgage Capital Corporation is a real estate investment trust. The Company is focused on investing in, financing and managing a diversified portfolio of real estate-related securities, whole-loans and other financial assets. The Company’s portfolio includes Agency residential mortgage-backed securities (RMBS), including Mortgage pass-through certificates, Agency derivatives, Agency Interest-Only Strips and Agency collateralized mortgage obligations (CMOs); Non-Agency RMBS, and Agency commercial mortgage-backed securities (CMBS), Non-Agency CMBS, Non United States CMBS and asset-backed securities (ABS), as well as Residential and Commercial Whole-Loans.

Earnings History for Western Asset Mortgage Capital Corporation (NYSE:WMC)

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