Ocwen Financial Corp Receives Average Rating of “Buy” from Brokerages (NYSE:OCN)
Ocwen Financial Corp (NYSE:OCN) has received a consensus rating of “Buy” from the ten brokerages that are currently covering the company, Analyst Ratings.Net reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $46.71.
Ocwen Financial Corp (NYSE:OCN) opened at 35.59 on Wednesday. Ocwen Financial Corp has a one year low of $31.31 and a one year high of $60.18. The stock’s 50-day moving average is $36.40 and its 200-day moving average is $40.08. The company has a market cap of $4.800 billion and a price-to-earnings ratio of 15.99.
Ocwen Financial Corp (NYSE:OCN) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.54 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.31 earnings per share. Ocwen Financial Corp’s revenue was up 46.7% compared to the same quarter last year. On average, analysts predict that Ocwen Financial Corp will post $3.32 earnings per share for the current fiscal year.
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.
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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