Ocwen Financial Corporation (OCN) Getting Somewhat Positive News Coverage, Study Finds

Media coverage about Ocwen Financial Corporation (NYSE:OCN) has trended somewhat positive this week, Accern reports. The research firm rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Ocwen Financial Corporation earned a daily sentiment score of 0.14 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 46.4419094816677 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

These are some of the news articles that may have impacted Accern’s analysis:

• Ocwen Financial Corp (OCN) Given $3 Consensus Target Price by Analysts – ExpertGazette (expertgazette.com)
• Critical Comparison: Ocwen Financial Corporation (OCN) vs. Hercules Capital, Inc. (HTGC) – StockNewsGazette (stocknewsgazette.com)
• Ocwen Financial Corp. breached its 50 day moving average in a Bearish Manner : OCN-US : August 16, 2017 (finance.yahoo.com)
• Ocwen Financial Corporation (OCN) versus First Bank (FRBA) Financial Review (americanbankingnews.com)
• Ocwen Financial Corporation’s (OCN) Hold Rating Reaffirmed at Keefe, Bruyette & Woods (americanbankingnews.com)

Shares of Ocwen Financial Corporation (OCN) traded down 0.36% during mid-day trading on Friday, hitting $2.79. 1,745,008 shares of the company were exchanged. The stock’s market cap is $365.10 million. The stock’s 50-day moving average price is $2.82 and its 200 day moving average price is $3.64. Ocwen Financial Corporation has a 12-month low of $2.12 and a 12-month high of $6.15.

Ocwen Financial Corporation (NYSE:OCN) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.17. Ocwen Financial Corporation had a negative net margin of 5.95% and a negative return on equity of 12.41%. The firm had revenue of $311.30 million during the quarter, compared to analyst estimates of $295.33 million. During the same quarter in the previous year, the company posted ($0.71) earnings per share. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. On average, equities analysts anticipate that Ocwen Financial Corporation will post ($1.04) EPS for the current fiscal year.

Several equities research analysts recently issued reports on OCN shares. Zacks Investment Research raised shares of Ocwen Financial Corporation from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Thursday, May 11th. Piper Jaffray Companies upgraded shares of Ocwen Financial Corporation from an “underweight” rating to a “neutral” rating and raised their price target for the company from $2.00 to $3.50 in a report on Monday, May 1st. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ocwen Financial Corporation in a report on Monday, May 8th. Compass Point lowered shares of Ocwen Financial Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Ocwen Financial Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $3.25.

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About Ocwen Financial Corporation

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.