loanDepot, Inc. (NYSE:LDI – Get Rating) – Investment analysts at Jefferies Financial Group reduced their second quarter 2022 earnings per share (EPS) estimates for loanDepot shares in a note released to investors on Tuesday 10 may. Jefferies Financial Group analyst K. Joseph now expects the company to post earnings of ($0.15) per share for the quarter, down from its previous forecast of $0.12. . Jefferies Financial Group also released estimates for LoanDepot Q3 2022 earnings at ($0.11) EPS, Q4 2022 earnings at ($0.01) EPS, FY2022 earnings at ($0.53 ) EPS, Q1 2023 earnings at $0.07 EPS, Q2 2023 earnings at $0.12 EPS, Q3 2023 earnings at $0.15 EPS, Q4 2023 earnings at $0.16 EPS and fiscal year 2023 at $0.51 EPS.
Other stock analysts have also released reports on the stock. Zacks Investment Research downgraded shares of loanDepot from a “hold” rating to a “sell” rating in a Wednesday, February 2, report. Goldman Sachs Group lowered its price target on LoanDepot shares from $4.80 to $3.90 and set a “neutral” rating on the stock in a Monday, April 4 report. Piper Sandler downgraded shares of loanDepot from an “overweight” rating to a “neutral” rating and lowered her price target for the company from $6.00 to $3.50 in a report released Wednesday. Raymond James downgraded loanDepot shares from an “outperforming” rating to a “market performing” rating in a Wednesday, February 2, report. Finally, JMP Securities downgraded loanDepot’s shares from an “outperform” rating to a “market performance” rating in a report released Wednesday. Three analysts gave the stock a sell rating, six gave the company a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.79.
LoanDepot shares opened at $2.28 on Friday. loanDepot has a twelve month minimum of $2.00 and a twelve month maximum of $16.95. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt ratio of 1.22. The company has a 50-day simple moving average of $3.60 and a two-hundred-day simple moving average of $4.59. The stock has a market capitalization of $708.92 million, a price-earnings ratio of 8.44 and a beta of 1.21. loanDepot (NYSE:LDI – Get Rating) last released quarterly earnings data on Tuesday, May 10. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.04 per ($0.30). loanDepot had a return on equity of 9.40% and a net margin of 1.16%. In the same quarter last year, the company posted earnings per share of $0.98.
The company also recently declared a quarterly dividend, which was paid on Monday, April 18. Shareholders of record on Monday, April 4 received a dividend of $0.08. The ex-dividend date was Friday, April 1. This represents a dividend of $0.32 on an annualized basis and a dividend yield of 14.04%. LoanDepot’s dividend payout ratio (DPR) is currently 118.52%.
In other news, Chief Financial Officer Patrick J. Flanagan sold 75,000 shares of the company in a trade that took place on Monday, March 7. The shares were sold at an average price of $3.88, for a total value of $291,000.00. The sale was disclosed in a filing with the SEC, accessible via the SEC’s website. Insiders sold a total of 225,000 shares of the company worth $796,500 in the past 90 days.
Several institutional investors have recently increased or reduced their stake in the stock. Goldman Sachs Group Inc. increased its position in loanDepot shares by 18.1% during the third quarter. Goldman Sachs Group Inc. now owns 14,981 shares of the company valued at $101,000 after acquiring 2,296 additional shares during the period. BlackRock Inc. increased its position in loanDepot shares by 5.0% during the third quarter. BlackRock Inc. now owns 63,955 shares of the company valued at $433,000 after acquiring an additional 3,036 shares during the period. Barclays PLC increased its position in loanDepot shares by 38.8% during the 4th quarter. Barclays PLC now owns 17,607 shares in the company valued at $85,000 after acquiring an additional 4,922 shares during the period. National Bank of Canada FI acquired a new position in shares of LoanDepot during the 1st quarter with a value of $28,000. Finally, Raymond James & Associates increased its position in loanDepot shares by 20.3% during the 4th quarter. Raymond James & Associates now owns 51,070 shares of the company valued at $245,000 after acquiring an additional 8,625 shares during the period. Institutional investors hold 4.12% of the company’s shares.
LoanDepot Company Profile (Get a rating)
loanDepot, Inc originates, funds, sells and services residential mortgage loans in the United States. It offers conventional agency-compliant and prime jumbo loans, federal assistance residential mortgages, and home equity loans. The Company also provides settlement services, which include captive securities and escrow activities; real estate services, which cover captive real estate referencing activities; and insurance services, including landlord services, and other consumer insurance policies.
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