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Ocwen Financial Corp (NYSE:OCN) reached a new 52-week low during mid-day trading on Monday after Compass Point lowered their price target on the stock from $43.00 to $34.00, Analyst Ratings Net reports. Compass Point currently has a buy rating on the stock. Ocwen Financial Corp traded as low as $26.40 and last traded at $26.69, with a volume of 3,176,565 shares. The stock had previously closed at $27.68.

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 assigned a hold rating and four have assigned a buy rating to the stock. Ocwen Financial Corp presently has a consensus rating of “Hold” and a consensus target price of $37.43.

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 $3.544 billion and a P/E ratio of 12.58.

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.

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