Ocwen Financial (NYSE:OCN) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Ocwen Financial (NYSE:OCN) announced its quarterly earnings results on Tuesday. The financial services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.01), Briefing.com reports. Ocwen Financial had a negative net margin of 15.29% and a negative return on equity of 37.37%. The company had revenue of $283.15 million during the quarter, compared to analyst estimates of $258.00 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis.
Shares of OCN stock traded down $0.03 during trading hours on Friday, hitting $1.73. 193,008 shares of the company were exchanged, compared to its average volume of 234,882. The company has a debt-to-equity ratio of 18.07, a quick ratio of 9.87 and a current ratio of 9.87. Ocwen Financial has a one year low of $1.20 and a one year high of $3.10. The business’s 50-day simple moving average is $1.83 and its two-hundred day simple moving average is $1.81.
In related news, Director Robert J. Lipstein purchased 161,105 shares of Ocwen Financial stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $1.55 per share, with a total value of $249,712.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Glen A. Messina purchased 132,000 shares of Ocwen Financial stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $1.50 per share, for a total transaction of $198,000.00. The disclosure for this purchase can be found here. Insiders have bought 398,455 shares of company stock worth $611,782 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.
Ocwen Financial Company Profile
Ocwen Financial Corporation, a financial services holding company, originates and services loans in the United States, the United States Virgin Islands, India, and Philippines. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate.
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