Pennymac Financial Services (PFSI) Reports In-Line Q1 EPS

Go back to Pennymac Financial Services (PFSI) Reports In-Line Q1 EPS

Compass Point Upgrades PennyMac Financial (PFSI) to Buy

May 8, 2014 8:11 AM EDT

Compass Point upgraded PennyMac Financial (NYSE: PFSI) from Neutral to Buy with a price target of $18.50 (from $15.00).

Analyst Kevin Barker comments, "PFSI reported operating EPS of $0.38, compared to our estimate of $0.29 and the consensus estimate of $0.37, assuming a 42% tax rate on pre-tax income. The beat compared to our estimate was primarily due to better than expected gain on sale margins and higher net servicing fee income. The increase... More