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Nationstar Mortgage Holdings Inc. Message Board

  • twm48976 twm48976 Aug 7, 2013 6:50 AM Flag

    NSM Nationstar Mortgage tgt raised to $55 at FBR Capital; servicing is a larger piece of the profitability puzzle

    07-Aug-13 06:45 ET

    NSM


    Nationstar Mortgage tgt raised to $55 at FBR Capital; servicing is a larger piece of the profitability puzzle

    FBR Capital raises their NSM tgt to $55 from $45 as the firm believes co should garner a higher multiple as servicing revenues become a larger percentage of overall profitability, and it moves away from the perception of largely being an originator. Co had another strong operating quarter as servicing profitability hit mgmt's year-end target, originations almost doubled, the acquisition pipeline grew, and operating revenues continue to increase.

    Sentiment: Strong Buy

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    • WAC just reported an amazing quarter. $3.75/share GAAP EPS. They expect total EPS of 6.00-6.50 for 2013 (which I think is a lowball estimate). Even if given a modest 10 P/E, stock would trade between 60-65. Give them the 20 P/E they deserve because of the enormous growth, stock should be well over 100.

 
NSM
11.59-0.21(-1.78%)Apr 29 4:02 PMEDT