Ocwen Financial Corp Target of Unusually Large Options Trading (OCN)
Shares of Ocwen Financial Corp (NYSE:OCN) saw unusually large options trading activity on Monday. Stock investors purchased 6,501 call options on the stock, Stock Ratings Network.com reports. This is an increase of approximately 225% compared to the average daily volume of 2,000 call options.
Several analysts have recently commented on the stock. Analysts at Compass Point reiterated a “buy” rating on shares of Ocwen Financial Corp in a research note on Friday, June 20th. Separately, analysts at Zacks downgraded shares of Ocwen Financial Corp from a “neutral” rating to an “underperform” rating in a research note on Wednesday, May 21st. They now have a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.71.
Ocwen Financial Corp (NYSE:OCN) traded down 0.70% during mid-day trading on Monday, hitting $36.87. The stock had a trading volume of 631,046 shares. Ocwen Financial Corp has a 52-week low of $31.31 and a 52-week high of $60.18. The stock has a 50-day moving average of $35.9 and a 200-day moving average of $40.87. The company has a market cap of $4.973 billion and a P/E ratio of 16.52.
Ocwen Financial Corp (NYSE:OCN) last released its earnings data on Thursday, May 1st. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.98 by $0.44. The company had revenue of $551.30 million for the quarter, compared to the consensus estimate of $570.58 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 46.7% on a year-over-year basis. On average, analysts predict that Ocwen Financial Corp will post $3.32 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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