Published On: Tue, Sep 13th, 2016

Zacks Investment Research Upgrades Nationstar Mortgage Holdings Inc. (NSM) to “Strong-Buy”

Nationstar Mortgage Holdings Inc. (NYSE:NSM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The firm currently has a $18.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 14.94% from the company’s previous close.
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 brokerages also recently issued reports on NSM. Citigroup Inc. upped their price objective on shares of Nationstar Mortgage Holdings from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, August 4th. Piper Jaffray Cos. initiated coverage on shares of Nationstar Mortgage Holdings in a research note on Friday. They set a “neutral” rating and a $15.50 price objective on the stock. Barclays PLC upped their price objective on shares of Nationstar Mortgage Holdings from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, August 4th. Keefe, Bruyette & Woods upped their price objective on shares of Nationstar Mortgage Holdings from $12.00 to $14.50 and gave the company a “market perform” rating in a research note on Thursday, August 4th. Finally, Credit Suisse Group AG reissued an “outperform” rating on shares of Nationstar Mortgage Holdings in a research note on Wednesday, July 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.11.

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Nationstar Mortgage Holdings (NYSE:NSM) opened at 15.66 on Tuesday. The stock’s market cap is $1.57 billion. Nationstar Mortgage Holdings has a 12 month low of $8.29 and a 12 month high of $16.60. The firm has a 50-day moving average of $14.97 and a 200 day moving average of $12.40.
Nationstar Mortgage Holdings (NYSE:NSM) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. Nationstar Mortgage Holdings had a negative net margin of 3.92% and a positive return on equity of 8.98%. The company had revenue of $346 million for the quarter, compared to the consensus estimate of $369.92 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was down 45.5% compared to the same quarter last year. Analysts anticipate that Nationstar Mortgage Holdings will post $1.28 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Nationstar Mortgage Holdings by 634,841.7% in the first quarter. JPMorgan Chase & Co. now owns 228,579 shares of the company’s stock valued at $2,263,000 after buying an additional 228,543 shares during the last quarter. Adirondack Research & Management Inc. raised its stake in Nationstar Mortgage Holdings by 32.4% in the first quarter. Adirondack Research & Management Inc. now owns 587,963 shares of the company’s stock valued at $5,821,000 after buying an additional 143,792 shares during the last quarter. UBS Group AG raised its stake in Nationstar Mortgage Holdings by 96.2% in the first quarter. UBS Group AG now owns 177,752 shares of the company’s stock valued at $1,760,000 after buying an additional 87,157 shares during the last quarter. CQS Cayman LP raised its stake in Nationstar Mortgage Holdings by 8.4% in the first quarter. CQS Cayman LP now owns 975,549 shares of the company’s stock valued at $9,658,000 after buying an additional 75,549 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in Nationstar Mortgage Holdings during the first quarter valued at about $433,000.
About Nationstar Mortgage Holdings
Nationstar Mortgage Holdings Inc provides servicing, origination and transaction based services principally to single-family residences throughout the United States. The Company operates through three segments: Servicing, Originations and Xome. The Company also operate an integrated residential loan origination platform that is primarily focused on customer retention.

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