Stonegate Mortgage: What A Disappointment
Thu, Aug. 4, 7:03 AM
Wed, Aug. 3, 5:30 PM
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Tue, May 10, 7:12 AM
Mon, May 9, 5:30 PM| Mon, May 9, 5:30 PM | 1 Comment
Thu, Mar. 3, 7:05 AM
- Stonegate Mortgage (NYSE:SGM): Q4 EPS of $0.05 beats by $0.03.
- Revenue of $46.8M (+82.8% Y/Y)
Wed, Mar. 2, 5:30 PM
Tue, Jan. 19, 11:43 AM
- The best thing that can be said about the market reaction today, is that New Residential (NRZ -0.6%) isn't down as much as the other mortgage-related names (REM -1.8%) which continue to be mercilessly pounded.
- PennyMac (PMT -4.5%), Ocwen (OCN -3.7%), Walter Investment (WAC -4.8%), Stonegate (SGM -3.4%), Armour (ARR -3.5%), Invesco (IVR -2.4%), New York Mortgage (NYMT -4.1%), Apollo Residential (AMTG -3.1%), AG Mortgage (MITT -3.4%), Five Oaks (OAKS -6.7%), American Capital (MTGE -2%), Two Harbors (TWO -2.2%), Chimera (CIM -3.4%).
- Citi's Michael Kaye - who rates NRZ a Buy - says the repurchase plan makes sense given the stock trades at just 0.84x book and yields 18%. Depending on how the buyback is funded, it could add up to a couple of hundred basis points of accretion. It also sends a signal to the markets about management's belief in the stock's value. Management gave little detail on a timetable.
- Previously: New Residential steps in with $200M repurchase plan (Jan. 19)
Wed, Jan. 6, 10:02 AM| Wed, Jan. 6, 10:02 AM
Nov. 4, 2015, 4:28 PM
- Stonegate Mortgage (NYSE:SGM): Q3 EPS of $0.02 misses by $0.08.
- Revenue of $34.9M (-44.6% Y/Y) misses by $28.83M.
Nov. 3, 2015, 5:35 PM
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Aug. 11, 2015, 10:58 AM| Aug. 11, 2015, 10:58 AM
Aug. 6, 2015, 7:09 AM
- Stonegate Mortgage (NYSE:SGM): Q2 EPS of -$0.04 misses by $0.26.
- Revenue of $87.44M (+51.8% Y/Y) beats by $8.71M.
May 6, 2015, 4:56 PM
- Stonegate Mortgage (NYSE:SGM): Q1 EPS of $0.17 beats by $0.05.
- Revenue of $44.32M (+15.7% Y/Y) misses by $19.52M.
Apr. 21, 2015, 3:15 PM
- Noting the more than 20% surge in the stock price since reporting Q4 earnings, KBW downgrades Stonegate Mortgage (SGM +0.6%) to Market Perform from Outperform, while maintaining the $12.50 price target.
- After the big move, the stock trades at 1.05x book value, giving it limited upside, says the team, though noting stronger-than-expected mortgage volume or a smaller-than-expected MSR mark could act as positive catalysts.
- Source: Benzinga
Feb. 26, 2015, 4:55 PM
- Stonegate Mortgage (NYSE:SGM): Q4 EPS of -$0.05 misses by $0.35.
- Revenue of $26.5M (-39.6% Y/Y) misses by $40.3M.
Feb. 11, 2015, 9:43 AM
- Calling the troubled stock a compelling risk-reward play, Compass Point's Kevin Barker upgrades Stonegate Mortgage (SGM +6.4%) from Neutral to Buy with $12.50 price target.
- Stonegate is in the currently toxic nonbank mortgage servicing business, as well as the currently sluggish mortgage origination business, and the stock is lower by about 50% since its IPO in late 2013.