Short Interest in PHH Grows By 18.6% (PHH)
PHH (NYSE:PHH) was the target of a large increase in short interest in May. As of May 30th, there was short interest totalling 17,581,653 shares, an increase of 18.6% from the May 15th total of 14,824,587 shares, Stock Ratings News reports. Based on an average daily trading volume, of 2,865,406 shares, the short-interest ratio is currently 6.1 days. Approximately 30.8% of the company’s stock are sold short.
A number of research firms have recently commented on PHH. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of PHH in a research note on Tuesday, June 17th. They now have a $24.00 price target on the stock, up previously from $23.00. Separately, analysts at Compass Point downgraded shares of PHH from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 3rd. They now have a $26.00 price target on the stock, down previously from $28.00. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $25.53.
PHH (NYSE:PHH) opened at 22.86 on Monday. PHH has a 52 week low of $19.50 and a 52 week high of $27.13. The stock’s 50-day moving average is $23.38 and its 200-day moving average is $24.35. The company has a market cap of $1.312 billion and a price-to-earnings ratio of 34.87.
PHH (NYSE:PHH) last announced its earnings results on Wednesday, May 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.55. The company had revenue of $517.00 million for the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down 29.2% on a year-over-year basis. On average, analysts predict that PHH will post $-0.30 earnings per share for the current fiscal year.
PHH Corporation (NYSE:PHH) is an outsource provider of mortgage and fleet management services.
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