UPDATE: Jefferies Starts Nationstar Mortgage (NSM) at Hold

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June 27, 2013 4:51 PM EDT
Get Alerts NSM Hot Sheet
Price: $18.27 --0%

Rating Summary:
    6 Buy, 5 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 5 | New: 8
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(Updated - June 28, 2013 6:55 AM EDT)

Jefferies initiates coverage on Nationstar Mortgage (NYSE: NSM) with a Hold. PT $40.00.

Analyst Daniel Furtado comments, "While we are positive on the NSM platform and long-term strategy, we see risks near term as HARP volumes dominate the profitability of the company. As HARP pay-ups decline as rates rise, we see near-term risks to GoS margins. With a majority of profits from originations, NSM's earnings are driven by rate-sensitive volumes/margins, warranting a discount to comps. Our PT of $40 is 6x our FY’14 EPS estimate of $6.67."

For an analyst ratings summary and ratings history on Nationstar Mortgage click here. For more ratings news on Nationstar Mortgage click here.

Shares of Nationstar Mortgage closed at $37.98 yesterday.

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