Equities research analysts expect Ocwen Financial Corporation (NYSE:OCN) to report earnings of ($0.37) per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Ocwen Financial Corporation’s earnings. Ocwen Financial Corporation posted earnings of ($0.08) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 362.5%. The firm is expected to issue its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that Ocwen Financial Corporation will report full year earnings of ($1.11) per share for the current fiscal year. For the next financial year, analysts anticipate that the company will post earnings of ($1.11) per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Ocwen Financial Corporation.
OCN has been the subject of several recent analyst reports. ValuEngine raised Ocwen Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. BidaskClub raised Ocwen Financial Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $3.00 target price on shares of Ocwen Financial Corporation in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $3.33.
Ocwen Financial Corporation (NYSE:OCN) traded up $0.09 during mid-day trading on Thursday, hitting $3.17. The stock had a trading volume of 1,142,464 shares, compared to its average volume of 2,961,451. The company has a debt-to-equity ratio of 9.82, a current ratio of 5.07 and a quick ratio of 5.07. Ocwen Financial Corporation has a 52 week low of $2.12 and a 52 week high of $6.15.
A number of institutional investors have recently bought and sold shares of the stock. Shell Asset Management Co. purchased a new stake in shares of Ocwen Financial Corporation during the third quarter worth $455,000. Paloma Partners Management Co purchased a new stake in shares of Ocwen Financial Corporation during the first quarter worth $104,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ocwen Financial Corporation during the second quarter worth $104,000. Voya Investment Management LLC lifted its position in shares of Ocwen Financial Corporation by 17.1% during the second quarter. Voya Investment Management LLC now owns 54,338 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 7,936 shares in the last quarter. Finally, Quinn Opportunity Partners LLC lifted its position in shares of Ocwen Financial Corporation by 3.6% during the second quarter. Quinn Opportunity Partners LLC now owns 59,653 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 48.35% of the company’s stock.
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.
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