Market Overview

UPDATE: Citigroup Raises PT on Home Loan Servicing Solutions Following Q2 EPS Report

Share:

In a report published Monday, Citigroup analyst Donald Fandetti reiterated a Buy rating on Home Loan Servicing Solutions (NASDAQ: HLSS), and raised the price target from $24.00 to $27.00.

In the report, Citigroup noted, “HLSS reported Q2 EPS of $0.48, beating our and cons estimates of $0.46. Earnings benefited from 2c of lower-than-expected amortization resulting from the 12.5% CPR vs. their 13.5% projection. Book value of $17.23 was up 8.6% q/q, mostly on the accretive equity offering in June. The company declared a $0.15 dividend for July/Aug/Sept (+1c/month), for a Q3'13 dividend of $0.45 (7.2% yield on the current share price). Q3'13 EPS guidance of 48-49c was provided on the call. We are raising our target to $27, from $24, on better earnings/dividend outlook.”

Home Loan Servicing Solutions closed on Friday at $24.96.

Latest Ratings for HLSS

DateFirmActionFromTo
Feb 2015PiperJaffrayDowngradesOverweightNeutral
Feb 2015BarclaysDowngradesOverweightEqual-Weight
Feb 2015PiperJaffrayDowngradesOverweightNeutral

View More Analyst Ratings for HLSS
View the Latest Analyst Ratings

 

Related Articles (HLSS)

View Comments and Join the Discussion!

Posted-In: Citigroup Donald FandettiAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
AMDSusquehannaMaintains95.0
BABAOppenheimerMaintains335.0
EAJefferiesMaintains150.0
MELIJefferiesMaintains1,560.0
NOMDBTIGInitiates Coverage On30.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com