Nationstar Mortgage (NSM) Upgraded by Zacks Investment Research to “Hold”

Nationstar Mortgage (NYSE:NSM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday, May 2nd.

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. “

Several other analysts also recently weighed in on the company. ValuEngine downgraded shares of Nationstar Mortgage from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Barclays reiterated a “sell” rating and issued a $19.00 target price (up from $18.00) on shares of Nationstar Mortgage in a report on Friday, March 2nd. Credit Suisse Group reduced their target price on shares of Nationstar Mortgage from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. Finally, Piper Jaffray downgraded shares of Nationstar Mortgage from a “neutral” rating to an “underweight” rating and set a $13.50 price objective on the stock. in a report on Tuesday, February 13th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.70.

Nationstar Mortgage opened at $18.51 on Wednesday, MarketBeat.com reports. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 5.31. The firm has a market capitalization of $1.82 billion, a P/E ratio of 10.65 and a beta of 1.14. Nationstar Mortgage has a fifty-two week low of $18.18 and a fifty-two week high of $18.37.

Nationstar Mortgage (NYSE:NSM) last issued its earnings results on Thursday, May 3rd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.04. The firm had revenue of $588.00 million during the quarter, compared to analyst estimates of $513.73 million. Nationstar Mortgage had a net margin of 10.38% and a return on equity of 9.85%. The business’s revenue was up 34.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. analysts predict that Nationstar Mortgage will post 1.97 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of NSM. California Public Employees Retirement System purchased a new stake in Nationstar Mortgage in the 1st quarter worth approximately $195,000. Ramsey Quantitative Systems acquired a new position in shares of Nationstar Mortgage during the 4th quarter worth approximately $230,000. MetLife Investment Advisors LLC acquired a new position in shares of Nationstar Mortgage during the 4th quarter worth approximately $244,000. Paloma Partners Management Co acquired a new position in shares of Nationstar Mortgage during the 4th quarter worth approximately $297,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Nationstar Mortgage during the 3rd quarter worth approximately $486,000. Hedge funds and other institutional investors own 97.56% of the company’s stock.

About Nationstar Mortgage

Nationstar Mortgage Holdings Inc provides servicing, origination, and transaction based services primarily to single-family residences in the United States. It operates in three segments: Servicing, Originations, and Xome. The Servicing segment offers conventional residential mortgage loans and home equity conversion loans.

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