Ocwen Financial Corporation (OCN) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Ocwen Financial Corporation (NYSE:OCN) have received an average rating of “Hold” from the eight ratings firms that are covering the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $3.21.
Several analysts have issued reports on OCN shares. Oppenheimer Holdings Inc. reaffirmed a “” rating on shares of Ocwen Financial Corporation in a report on Tuesday, August 2nd. Compass Point raised shares of Ocwen Financial Corporation from a “neutral” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Wednesday, September 14th. Zacks Investment Research downgraded shares of Ocwen Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 24th. Keefe, Bruyette & Woods reduced their price target on shares of Ocwen Financial Corporation from $5.00 to $3.00 and set a “market perform” rating on the stock in a report on Thursday, July 28th. Finally, Piper Jaffray Cos. reduced their price objective on shares of Ocwen Financial Corporation from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 8th.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Ocwen Financial Corporation by 2.1% in the third quarter. BlackRock Inc. now owns 48,952 shares of the company’s stock valued at $180,000 after buying an additional 1,007 shares during the period. First Trust Advisors LP raised its position in shares of Ocwen Financial Corporation by 57.6% in the third quarter. First Trust Advisors LP now owns 52,805 shares of the company’s stock valued at $194,000 after buying an additional 19,291 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Ocwen Financial Corporation by 42.4% in the second quarter. Parametric Portfolio Associates LLC now owns 58,712 shares of the company’s stock valued at $100,000 after buying an additional 17,481 shares during the period. KCG Holdings Inc. bought a new position in shares of Ocwen Financial Corporation during the third quarter valued at approximately $222,000. Finally, BlackRock Advisors LLC raised its position in shares of Ocwen Financial Corporation by 25.7% in the second quarter. BlackRock Advisors LLC now owns 62,534 shares of the company’s stock valued at $107,000 after buying an additional 12,788 shares during the period. 59.04% of the stock is owned by hedge funds and other institutional investors.
Ocwen Financial Corporation (NYSE:OCN) traded down 1.866% during mid-day trading on Wednesday, reaching $4.995. 1,163,172 shares of the company traded hands. The stock’s market capitalization is $619.33 million. Ocwen Financial Corporation has a 52-week low of $1.29 and a 52-week high of $7.63. The stock has a 50-day moving average of $4.23 and a 200 day moving average of $2.87.
Ocwen Financial Corporation (NYSE:OCN) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.40. Ocwen Financial Corporation had a negative net margin of 29.01% and a negative return on equity of 25.54%. The company had revenue of $359.40 million for the quarter, compared to the consensus estimate of $353.08 million. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. Equities research analysts expect that Ocwen Financial Corporation will post ($1.66) earnings per share for the current year.
Ocwen Financial Corporation Company Profile
Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, operates as a mortgage company. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its core residential servicing business.
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