Walter Investment Management Corp (WAC) is Reiterated by Compass Point to Sell, Lowers Price Target to $ 2.50

Walter Investment Management Corp (WAC) was Reiterated by Compass Point to “Sell” while Lowering the Price Target of the company shares to $ 2.50 from a previous price target of $6 . Compass Point advised their investors in a research report released on May 4, 2016.

Many Wall Street Analysts have commented on Walter Investment Management Corp. Shares were Reiterated by FBR Capital on May 4, 2016 to “Underperform” and Lowered the Price Target to $ 3 from a previous price target of $7 .Shares were Reiterated by Compass Point on Mar 9, 2016 to “Sell” and Lowered the Price Target to $ 6 from a previous price target of $10 .Shares were Reiterated by Credit Suisse on Mar 7, 2016 to “Neutral” and Lowered the Price Target to $ 9 from a previous price target of $22 .

On the company’s financial health, Walter Investment Management Corp reported $-0.50 EPS for the quarter, missing the analyst consensus estimate by $ -0.78 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $0.28. The company had revenue of $66.77 million for the quarter, compared to analysts expectations of $295.85 million. The company’s revenue was down -78.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.02 EPS.

Walter Investment Management Corp closed down -0.05 points or -0.69% at $7.2 with 1,91,973 shares getting traded on Monday. Post opening the session at $7.31, the shares hit an intraday low of $7.01 and an intraday high of $7.35 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Feb 13, 2015, Gary Tillett (CFO) purchased 7,900 shares at $24.78 per share price.

Walter Investment Management Corp. is a mortgage banking firm focused on the servicing and origination of residential loans including reverse loans. The Company operates through six segments: Servicing segment perform servicing for third-party credit owners of mortgage loans as well as its own mortgage loan portfolio. Originations segment purchases and originates mortgage loans that are sold to third parties with servicing rights generally retained; Reverse Mortgage segment purchases and originates Home Equity Conversion Mortgage that are securitized but remain on the consolidated balance sheet as collateral for secured borrowings. Asset Receivables Management performs collections of post charge-off deficiency balances. Insurance provides voluntary insurance for residential loan borrowers and lender-placed hazard insurance for borrowers and credit owners as well as other ancillary products. Loans and Residuals consist of the assets and mortgage-backed debt of the Residual Trusts.

Walter Investment Management Corp

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Walter Investment Management Corp - Is it time to Sell?

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