PHH Corp. (PHH) Research Coverage Started at Wedbush
Analysts at Wedbush began coverage on shares of PHH Corp. (NYSE:PHH) in a note issued to investors on Monday. The brokerage set a “neutral” rating and a $16.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 8.40% from the company’s current price.
A number of other brokerages have also commented on PHH. Keefe, Bruyette & Woods lowered shares of PHH Corp. from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $14.92 to $17.00 in a report on Thursday, August 11th. Zacks Investment Research raised shares of PHH Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating on shares of PHH Corp. in a research note on Monday, August 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. PHH Corp. currently has an average rating of “Hold” and a consensus target price of $14.75.
PHH Corp. (NYSE:PHH) traded down 0.95% during trading on Monday, hitting $14.62. 508,550 shares of the stock were exchanged. The firm’s market cap is $782.56 million. PHH Corp. has a 52 week low of $8.26 and a 52 week high of $18.68. The firm’s 50-day moving average is $14.76 and its 200 day moving average is $13.81.
PHH Corp. (NYSE:PHH) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.38. The company had revenue of $196 million for the quarter, compared to analyst estimates of $182 million. PHH Corp. had a negative net margin of 22.64% and a negative return on equity of 6.33%. PHH Corp.’s revenue was down 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.43) earnings per share. Analysts expect that PHH Corp. will post ($1.17) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas increased its stake in PHH Corp. by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 7,514 shares of the company’s stock valued at $100,000 after buying an additional 159 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in PHH Corp. by 1.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 37,567 shares of the company’s stock valued at $500,000 after buying an additional 437 shares during the period. BlackRock Inc. increased its stake in PHH Corp. by 15.7% in the first quarter. BlackRock Inc. now owns 8,149 shares of the company’s stock valued at $102,000 after buying an additional 1,103 shares during the period. American International Group Inc. increased its stake in PHH Corp. by 4.8% in the second quarter. American International Group Inc. now owns 30,502 shares of the company’s stock valued at $406,000 after buying an additional 1,391 shares during the period. Finally, Nationwide Fund Advisors increased its stake in PHH Corp. by 5.6% in the second quarter. Nationwide Fund Advisors now owns 45,972 shares of the company’s stock valued at $612,000 after buying an additional 2,448 shares during the period.
PHH Corp. Company Profile
PHH Corporation (PHH) is a non-bank mortgage originator and servicer of the United States residential mortgage loans. The Company conducts its business through two segments: Mortgage Production and Mortgage Servicing. Its Mortgage Production segment originates, purchases and sells mortgage loans through PHH Mortgage.
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