Ocwen Financial Corp. Given New $58.00 Price Target at Compass Point (OCN)
Compass Point increased their price target on shares of Ocwen Financial Corp. (NYSE:OCN) from $55.00 to $58.00 in a research note issued on Monday, StockRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. Compass Point’s price target would suggest a potential upside of 10.22% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Ocwen Financial Corp. from $63.00 to $65.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Wells Fargo & Co. downgraded shares of Ocwen Financial Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. Finally, analysts at Zacks reiterated a “hold” rating on shares of Ocwen Financial Corp. in a research note to investors on Wednesday, October 16th. They now have a $54.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $55.88.
Ocwen Financial Corp. (NYSE:OCN) traded down 1.39% during mid-day trading on Monday, hitting $52.62. The stock had a trading volume of 2,482,326 shares. Ocwen Financial Corp. has a 52 week low of $31.58 and a 52 week high of $60.18. The stock has a 50-day moving average of $56.07 and a 200-day moving average of $47.72. The company has a market cap of $7.147 billion and a P/E ratio of 30.63. Ocwen Financial Corp. also saw unusually large options trading activity on Friday. Traders acquired 8,676 put options on the company. This is an increase of approximately 214% compared to the average volume of 2,760 put options.
Ocwen Financial Corp. (NYSE:OCN) last released its earnings data on Thursday, October 31st. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by $0.66. The company had revenue of $531.24 million for the quarter, compared to the consensus estimate of $591.85 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 128.3% on a year-over-year basis. Analysts expect that Ocwen Financial Corp. will post $2.38 EPS 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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