Ocwen Financial Corp Price Target Cut to $34.00 (OCN)
Research analysts at Compass Point dropped their price objective on shares of Ocwen Financial Corp (NYSE:OCN) from $43.00 to $34.00 in a report released on Monday. The firm currently has a “buy” rating on the stock. Compass Point’s price target would indicate a potential upside of 22.83% from the company’s current price.
A number of other firms have also recently commented on OCN. Analysts at Oppenheimer cut their price target on shares of Ocwen Financial Corp from $42.00 to $36.00 in a research note on Friday. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Ocwen Financial Corp from $40.00 to $33.00 in a research note on Friday. They now have a “market perform” rating on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Ocwen Financial Corp presently has a consensus rating of “Hold” and an average target price of $37.43.
Ocwen Financial Corp (NYSE:OCN) opened at 27.68 on Monday. Ocwen Financial Corp has a 52-week low of $27.59 and a 52-week high of $60.18. The stock’s 50-day moving average is $36.00 and its 200-day moving average is $38.08. The company has a market cap of $3.675 billion and a price-to-earnings ratio of 12.58.
Ocwen Financial Corp (NYSE:OCN) last announced its earnings results on Thursday, July 31st. The company reported $0.48 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter 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.
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