Ocwen Financial Corp. Sets New 1-Year High at $58.18 (OCN)
Shares of Ocwen Financial Corp. (NYSE:OCN) hit a new 52-week high during trading on Thursday, Analyst Ratings Network reports. The stock traded as high as $58.18 and last traded at $58.08, with a volume of 1,985,896 shares trading hands. The stock had previously closed at $56.56.
A number of analysts have recently weighed in on OCN shares. Analysts at Oppenheimer initiated coverage on shares of Ocwen Financial Corp. (NYSE:OCN) in a research note to investors on Monday, September 9th. They set an “outperform” rating and a $66.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Ocwen Financial Corp. (NYSE:OCN) in a research note to investors on Monday, August 26th. They now have a $54.00 price target on the stock. Finally, analysts at Compass Point raised their price target on shares of Ocwen Financial Corp. (NYSE:OCN) from $49.00 to $55.00 in a research note to investors on Wednesday, August 7th. They now have a “buy” rating on the stock.
One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Ocwen Financial Corp. has a consensus rating of “Buy” and a consensus target price of $53.89.
Ocwen Financial Corp. has a 52 week low of $27.22 and a 52 week high of $58.18. The stock has a 50-day moving average of $52.49 and a 200-day moving average of $43.83. The company has a market cap of $7.882 billion and a price-to-earnings ratio of 33.55.
Ocwen Financial Corp. (NYSE:OCN) last announced its earnings results on Thursday, August 1st. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.02 by $0.49. The company had revenue of $530.00 million for the quarter, compared to the consensus estimate of $515.88 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 150.7% on a year-over-year basis. On average, analysts predict that Ocwen Financial Corp. will post $3.31 earnings per share for the current fiscal year.
Ocwen Financial Corporation is a financial services holding company. The Company is engaged in the servicing and origination of mortgage loans.
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