Ocwen Financial Corp Given Consensus Recommendation of “Hold” by Brokerages (NYSE:OCN)
Shares of Ocwen Financial Corp (NYSE:OCN) have received a consensus rating of “Hold” from the nine ratings firms that are covering the stock, AmericanBankingNews.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $32.86.
Shares of Ocwen Financial Corp (NYSE:OCN) opened at 26.90 on Wednesday. Ocwen Financial Corp has a 52-week low of $24.87 and a 52-week high of $60.18. The stock has a 50-day moving average of $31.38 and a 200-day moving average of $35.84. The company has a market cap of $3.519 billion and a P/E ratio of 12.02.
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 $2.48 earnings per share for the current fiscal year.
A number of research firms have recently commented on OCN. Analysts at Zacks reiterated an “underperform” rating on shares of Ocwen Financial Corp in a research note on Friday. They now have a $25.00 price target on the stock. Separately, 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. Finally, 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.
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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