Ocwen Financial Corp Receives Consensus Recommendation of “Hold” from Analysts (NYSE:OCN)
Ocwen Financial Corp (NYSE:OCN) has received an average rating of “Hold” from the eight brokerages that are presently covering the stock, StockRatingsNetwork.com reports. Six investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $34.17.
Shares of Ocwen Financial Corp (NYSE:OCN) traded down 0.47% on Wednesday, hitting $26.475. The stock had a trading volume of 83,937 shares. Ocwen Financial Corp has a one year low of $24.87 and a one year high of $60.18. The stock has a 50-day moving average of $32. and a 200-day moving average of $36.0. The company has a market cap of $3.515 billion and a P/E ratio of 12.09.
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. Analysts expect that Ocwen Financial Corp will post $2.48 EPS for the current fiscal year.
A number of analysts have recently weighed in on OCN shares. Analysts at Bank of America reiterated a “buy” rating on shares of Ocwen Financial Corp in a research note on Tuesday, August 5th. 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, August 5th. 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, August 5th. They now have a $36.00 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.
Receive News & Ratings for Ocwen Financial Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocwen Financial Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.