Western Asset Mortgage Capital Corp (WMC) reported quarterly earnings results on Wednesday, Aug-3-2016. The company reported $0.27 earnings per share for the quarter, missing the analyst consensus estimate by $-0.05. Analysts had a consensus of $0.32. The company posted revenue of $21.50 million in the period, compared to analysts expectations of $17.58 million. The company’s revenue was down -37.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.
Many Wall Street Analysts have commented on Western Asset Mortgage Capital Corp. Western Asset Mortgage Capital Corp was Downgraded by BofA/Merrill to ” Neutral” on Jun 29, 2016. Company shares were Upgraded by Wunderlich on Jun 27, 2016 to ” Hold”, Firm has raised the Price Target to $ 9.50 from a previous price target of $8 .Shares were Downgraded by Wunderlich on May 10, 2016 to ” Sell” and Lowered the Price Target to $ 8 from a previous price target of $10 .
Western Asset Mortgage Capital Corp closed down -0.07 points or -0.71% at $9.82 with 2,34,721 shares getting traded on Tusday. Post opening the session at $9.9, the shares hit an intraday low of $9.82 and an intraday high of $9.95 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Apr 13, 2016, Gavin L James (CEO) purchased 730 shares at $15.21 per share price. According to the SEC, on Dec 28, 2015, Elliott Neumayer (COO) purchased 200 shares at $10.84 per share price.
Western Asset Mortgage Capital Corporation is a specialty financial real estate investment trust (REIT) managing a diversified mortgage-market investment portfolio including undervalued assets. The Company’s is primarily focused on investing in financing and managing Agency residential mortgage-backed securities (RMBS) (including To-Be-Announced securities (TBAs)) Non-Agency RMBS and Agency and Non-Agency commercial mortgage-backed securities (CMBS). In addition the Company also invests in other securities including certain Agency obligations that are not technically mortgage-backed securities (MBS) as well as certain Non United States CMBS and asset-backed securities (ABS) investments secured by a portfolio private student loans and interests in residential whole-loans. The Company is externally managed and advised by Western Asset Management Company (the Manager).