Walter Investment Management Corp (WAC) reported quarterly earnings results on Tuesday, May-3-2016. The company reported $-0.50 earnings per share for the quarter, missing the analyst consensus estimate by $-0.78. Analysts had a consensus of $0.28. The company posted revenue of $66.77 million in the period, 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.
Many Wall Street Analysts have commented on Walter Investment Management Corp. 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 .Shares were Reiterated by Barclays on Mar 1, 2016 to “Underweight” and Lowered the Price Target to $ 7 from a previous price target of $10 .
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.