PHH Corp Expected to Post Q4 2017 Earnings of ($1.68) Per Share (PHH)
PHH Corp (NYSE:PHH) – Investment analysts at Wedbush boosted their Q4 2017 earnings estimates for shares of PHH Corp in a report issued on Wednesday. Wedbush analyst H. Coffey now forecasts that the credit services provider will earn ($1.68) per share for the quarter, up from their prior estimate of ($2.23). Wedbush also issued estimates for PHH Corp’s Q1 2018 earnings at ($1.14) EPS and Q2 2018 earnings at ($1.36) EPS.
PHH Corp (NYSE:PHH) last issued its earnings results on Tuesday, November 7th. The credit services provider reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.38). The firm had revenue of $121.00 million for the quarter, compared to analyst estimates of $61.00 million. PHH Corp had a negative return on equity of 27.98% and a negative net margin of 71.84%. The business’s revenue for the quarter was down 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) EPS. TRADEMARK VIOLATION NOTICE: “PHH Corp Expected to Post Q4 2017 Earnings of ($1.68) Per Share (PHH)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/11/15/phh-corp-expected-to-post-q4-2017-earnings-of-1-68-per-share-phh.html.
Other equities analysts also recently issued research reports about the stock. BidaskClub upgraded shares of PHH Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research upgraded shares of PHH Corp from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.00 target price on shares of PHH Corp in a research note on Tuesday, September 12th. Finally, ValuEngine upgraded shares of PHH Corp from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $15.83.
PHH Corp (NYSE:PHH) opened at $11.04 on Monday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 2.94 and a current ratio of 2.94. PHH Corp has a 12 month low of $10.91 and a 12 month high of $15.70.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in PHH Corp by 0.4% in the second quarter. Vanguard Group Inc. now owns 4,372,716 shares of the credit services provider’s stock valued at $60,212,000 after acquiring an additional 15,988 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in PHH Corp by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,919,106 shares of the credit services provider’s stock valued at $54,593,000 after acquiring an additional 127,845 shares during the last quarter. Renaissance Technologies LLC lifted its position in PHH Corp by 27.0% in the second quarter. Renaissance Technologies LLC now owns 2,662,400 shares of the credit services provider’s stock valued at $36,661,000 after acquiring an additional 566,600 shares during the last quarter. State Street Corp lifted its position in PHH Corp by 3.7% in the second quarter. State Street Corp now owns 1,144,810 shares of the credit services provider’s stock valued at $15,765,000 after acquiring an additional 40,915 shares during the last quarter. Finally, Royce & Associates LP lifted its position in PHH Corp by 5.7% in the second quarter. Royce & Associates LP now owns 509,928 shares of the credit services provider’s stock valued at $7,022,000 after acquiring an additional 27,500 shares during the last quarter. 97.50% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Carroll R. Wetzel sold 21,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $14.25, for a total value of $299,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Leith W. Kaplan sold 9,800 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $11.21, for a total transaction of $109,858.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,625 shares of company stock valued at $420,658. 2.52% of the stock is owned by corporate insiders.
PHH Corp announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 8th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the credit services provider to repurchase up to 26.9% of its shares through a dutch auction. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
About PHH Corp
PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.
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