Analysts forecast that Ocwen Financial Co. (NYSE: OCN – Get Rating) will announce earnings per share (EPS) of $ 1.17 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Ocwen Financial’s earnings, with estimates ranging from $ 0.84 to $ 1.49. Ocwen Financial posted earnings of ($ 0.01) per share during the same quarter last year, which suggests a positive year over year growth rate of 11,800%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Ocwen Financial will report full year earnings of $ 5.79 per share for the current financial year, with EPS estimates ranging from $ 5.08 to $ 6.50. For the next financial year, analysts forecast that the firm will post earnings of $ 5.62 per share. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Ocwen Financial.
Ocwen Financial (NYSE: OCN – Get Rating) last announced its quarterly earnings data on Friday, February 25th. The financial services provider reported ($ 0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 2.46 by ($ 2.66). Ocwen Financial had a net margin of 6.30% and a return on equity of 6.98%. The company had revenue of $ 293.96 million for the quarter, compared to the consensus estimate of $ 52.17 million.
A number of research analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of Ocwen Financial in a research note on Wednesday, April 20th. They set a “neutral” rating on the stock. StockNews.com started coverage on Ocwen Financial in a research note on Thursday, March 31st. They issued a “hold” rating for the company. B. Riley decreased their target price on Ocwen Financial from $ 56.00 to $ 50.00 in a research note on Wednesday, March 16th. Finally, Zacks Investment Research downgraded Ocwen Financial from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $ 42.67.
OCN opened at $ 22.54 on Friday. The company has a 50 day simple moving average of $ 22.54 and a two-hundred day simple moving average of $ 31.03. The company has a debt-to-equity ratio of 16.12, a current ratio of 17.58 and a quick ratio of 17.58. The firm has a market cap of $ 208.50 million, a P / E ratio of 3.24 and a beta of 1.94. Ocwen Financial has a 1-year low of $ 17.76 and a 1-year high of $ 41.92.
Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Ocwen Financial by 52.9% in the third quarter. Royal Bank of Canada now owns 887 shares of the financial services provider’s stock worth $ 25,000 after purchasing an additional 307 shares during the last quarter. Bank of America Corp DE grew its position in Ocwen Financial by 4.7% in the fourth quarter. Bank of America Corp DE now owns 9,578 shares of the financial services provider’s stock worth $ 383,000 after acquiring an additional 430 shares in the last quarter. Citigroup Inc. increased its stake in Ocwen Financial by 140.2% during the third quarter. Citigroup Inc. now owns 932 shares of the financial services provider’s stock worth $ 26,000 after acquiring an additional 544 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Ocwen Financial by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 21,417 shares of the financial services provider’s stock valued at $ 509,000 after purchasing an additional 795 shares during the period. Finally, Dorsey Wright & Associates bought a new stake in shares of Ocwen Financial in the 4th quarter valued at approximately $ 54,000. 59.89% of the stock is owned by institutional investors.
About Ocwen Financial (Get Rating)
Ocwen Financial Corporation, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. The company operates through Servicing and Originations segments. It provides commercial mortgage loan servicing, special servicing, and asset management services, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans to owners of mortgage loans and foreclosed real estate.
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