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PennyMac Mortgage (PMT)
NYSE:PMT
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.36Last Year’s EPS
0.44Same Quarter Last Year
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 01, 2018
|% Change Since: -4.08%
|Next Earnings Date:Aug 02, 2018
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive sentiment with strong financial performance, successful refinancing initiatives, and increased MSR retention. However, challenges remain in the decline of MSR fair values and execution of certain securitization strategies.Company Guidance
During the PennyMac Mortgage Investment Trust's third-quarter earnings call for 2024, the company provided guidance on its financial performance and strategic focus areas. PMT reported a net income of $31 million, translating to $0.36 per diluted share, with an annualized return on common equity of 9%. The book value per share was slightly down at $15.85. The company highlighted its focus on refinancing $457 million in CRT and MSR term notes with $514 million in new notes, reflecting lower costs and extended durations. Approximately two-thirds of PMT's shareholders' equity is invested in a seasoned portfolio of MSRs and GSE lender risk share transactions. The company also emphasized its strategic pivot towards increasing investments in credit-sensitive strategies, including private label securitizations of investor loans and second homes. PMT retained a higher percentage of conventional correspondent loan production, investing approximately $90 million in new MSRs this quarter. Looking ahead, PMT anticipates retaining a smaller percentage of conventional production to optimize capital allocation and explore emerging investment opportunities. The interest rate-sensitive strategies contributed $500,000 in pretax income, with MSR investments valued at $3.8 billion at the end of the quarter. PMT's current run rate potential reflects an expected quarterly average of $0.37 per share, with the possibility of increasing to $0.40 if the yield curve steepens further. The company is well-positioned for the repayment of $210 million in exchangeable senior notes due in November, bolstered by its recent refinancing efforts.Solid Financial Performance
Net income to common shareholders was $31 million, or $0.36 per diluted share. PMT's annualized return on common equity was 9%.
Successful Refinancing
Completed refinancing of $457 million of CRT and MSR term notes with $514 million of new term notes at lower costs and extended durations.
Increased Retention of MSRs
PMT retained an increased percentage of total conventional correspondent loan production, investing approximately $90 million in new MSRs, more than double the amount from the prior quarter.
Strong Credit-Sensitive Strategies
Credit-sensitive strategies contributed $26 million in pretax income with favorable outlook due to low delinquency rates and low loan-to-value ratios.
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PMT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PMT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $13.25 | $13.10 | -1.13% |
| Jul 23, 2024 | $13.63 | $12.55 | -7.92% |
| Apr 24, 2024 | $12.57 | $12.96 | +3.10% |
| Feb 01, 2024 | $12.85 | $12.42 | -3.35% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does PennyMac Mortgage (PMT) report earnings?
PennyMac Mortgage (PMT) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is PennyMac Mortgage (PMT) earnings time?
PennyMac Mortgage (PMT) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PMT EPS forecast?
PMT EPS forecast for the fiscal quarter 2024 (Q4) is 0.36.
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