Ocwen Financial (OCN) Scheduled to Post Earnings on Thursday

Ocwen Financial (NYSE:OCNGet Rating) is set to release its earnings data before the market opens on Thursday, May 5th. Analysts expect Ocwen Financial to post earnings of $0.78 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Ocwen Financial (NYSE:OCNGet Rating) last issued its quarterly earnings data on Friday, February 25th. The financial services provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $2.46 by ($2.66). The firm had revenue of $293.96 million for the quarter, compared to the consensus estimate of $52.17 million. Ocwen Financial had a return on equity of 6.18% and a net margin of 1.72%. On average, analysts expect Ocwen Financial to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Shares of OCN stock opened at $20.23 on Tuesday. The firm has a market capitalization of $186.72 million, a P/E ratio of 10.65 and a beta of 1.94. Ocwen Financial has a twelve month low of $17.76 and a twelve month high of $41.92. The company has a quick ratio of 16.75, a current ratio of 16.75 and a debt-to-equity ratio of 17.42. The stock’s fifty day simple moving average is $23.79 and its 200 day simple moving average is $31.66.

A number of brokerages recently weighed in on OCN. B. Riley reduced their price objective on Ocwen Financial from $56.00 to $50.00 in a research report on Wednesday, March 16th. BTIG Research began coverage on Ocwen Financial in a research report on Wednesday, April 20th. They set a “neutral” rating on the stock. Zacks Investment Research lowered Ocwen Financial from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 19th. Finally, StockNews.com assumed coverage on Ocwen Financial in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Ocwen Financial presently has a consensus rating of “Hold” and an average target price of $42.67.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in shares of Ocwen Financial by 52.9% in the 3rd quarter. Royal Bank of Canada now owns 887 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 307 shares during the period. Citigroup Inc. lifted its stake in shares of Ocwen Financial by 107.0% in the 4th quarter. Citigroup Inc. now owns 1,929 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 997 shares during the period. Metropolitan Life Insurance Co NY acquired a new position in shares of Ocwen Financial in the 4th quarter valued at about $87,000. MetLife Investment Management LLC acquired a new position in shares of Ocwen Financial in the 4th quarter valued at about $116,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Ocwen Financial in the 4th quarter valued at about $329,000. Hedge funds and other institutional investors own 59.89% of the company’s stock.

Ocwen Financial Company Profile (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.

Further Reading

Earnings History for Ocwen Financial (NYSE:OCN)

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