Ocwen Financial Corp Given New $33.00 Price Target at Keefe, Bruyette & Woods (OCN)
Equities researchers at Keefe, Bruyette & Woods decreased their target price on shares of Ocwen Financial Corp (NYSE:OCN) from $40.00 to $33.00 in a research report issued on Friday. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 19.22% from the company’s current price.
A number of other analysts have also recently weighed in on OCN. Analysts at Sterne Agee downgraded shares of Ocwen Financial Corp from a “buy” rating to a “neutral” rating in a research note on Friday. They now have a $30.00 price target on the stock, down previously from $36.00. Separately, analysts at Citigroup Inc. downgraded shares of Ocwen Financial Corp from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, analysts at Compass Point reiterated a “buy” rating on shares of Ocwen Financial Corp in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $38.00.
Shares of Ocwen Financial Corp (NYSE:OCN) traded down 8.25% on Friday, hitting $27.68. The stock had a trading volume of 12,321,259 shares. Ocwen Financial Corp has a 52-week low of $27.59 and a 52-week high of $60.18. The stock has a 50-day moving average of $36.00 and a 200-day moving average of $38.08. The company has a market cap of $3.733 billion and a P/E ratio of 13.43.
Ocwen Financial Corp (NYSE:OCN) last announced its earnings results on Thursday, July 31st. The company reported $0.48 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.79 by $0.31. The company had revenue of $553.10 million for the quarter, compared to the consensus estimate of $553.83 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts predict that Ocwen Financial Corp will post $3.29 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.