Ocwen Financial Corp Target of Unusually High Options Trading (OCN)
Ocwen Financial Corp (NYSE:OCN) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 3,304 call options on the stock, Analyst Ratings Network.com reports. This is an increase of 119% compared to the average volume of 1,512 call options.
Several analysts have recently commented on the stock. Analysts at Bank of America reiterated a “buy” rating on shares of Ocwen Financial Corp in a research note on Tuesday. They now have a $35.00 price target on the stock, down previously from $54.00. Separately, analysts at Compass Point downgraded shares of Ocwen Financial Corp from a “buy” rating to a “neutral” rating in a research note on Tuesday. They now have a $29.00 price target on the stock, down previously from $34.00. Finally, analysts at Oppenheimer downgraded shares of Ocwen Financial Corp from an “outperform” rating to a “market perform” rating in a research note on Tuesday. They now have a $36.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $33.57.
Shares of Ocwen Financial Corp (NYSE:OCN) traded down 1.41% on Tuesday, hitting $26.60. The stock had a trading volume of 5,116,706 shares. Ocwen Financial Corp has a 1-year low of $26.40 and a 1-year high of $60.18. The stock’s 50-day moving average is $35.73 and its 200-day moving average is $37.69. The company has a market cap of $3.532 billion and a price-to-earnings ratio of 12.26.
Ocwen Financial Corp (NYSE:OCN) last announced its earnings results on Thursday, July 31st. The company reported $0.48 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.53 earnings per share. Ocwen Financial Corp’s revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that Ocwen Financial Corp will post $2.65 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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