PHH Corp. to Post Q3 2016 Earnings of $0.05 Per Share, Wedbush Forecasts (PHH)
PHH Corp. (NYSE:PHH) – Stock analysts at Wedbush issued their Q3 2016 earnings per share (EPS) estimates for shares of PHH Corp. in a research report issued on Monday. Wedbush analyst H. Coffey expects that the firm will earn $0.05 per share for the quarter. Wedbush currently has a “Neutral” rating and a $16.00 target price on the stock. Wedbush also issued estimates for PHH Corp.’s Q4 2016 earnings at ($0.01) EPS, Q1 2017 earnings at $0.03 EPS, Q2 2017 earnings at $0.03 EPS, Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.07 EPS and FY2017 earnings at $0.20 EPS.
Several other equities research analysts also recently commented on the stock. Keefe, Bruyette & Woods downgraded shares of PHH Corp. from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $14.92 to $17.00 in a report on Thursday, August 11th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of PHH Corp. in a report on Monday, August 8th. Finally, Zacks Investment Research raised shares of PHH Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. PHH Corp. currently has an average rating of “Hold” and an average price target of $14.75.
PHH Corp. (NYSE:PHH) traded down 0.94% during midday trading on Thursday, hitting $14.78. 78,719 shares of the stock were exchanged. PHH Corp. has a 1-year low of $8.26 and a 1-year high of $18.68. The company’s market capitalization is $791.13 million. The company’s 50 day moving average is $14.74 and its 200 day moving average is $13.83.
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PHH Corp. (NYSE:PHH) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.38. PHH Corp. had a negative net margin of 22.64% and a negative return on equity of 6.33%. The company had revenue of $196 million for the quarter, compared to the consensus estimate of $182 million. During the same period last year, the company posted ($1.43) EPS. The firm’s quarterly revenue was down 17.3% compared to the same quarter last year.
Several large investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its stake in shares of PHH Corp. by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 7,514 shares of the company’s stock valued at $100,000 after buying an additional 159 shares in the last quarter. BlackRock Inc. boosted its stake in shares of PHH Corp. by 15.7% in the first quarter. BlackRock Inc. now owns 8,149 shares of the company’s stock valued at $102,000 after buying an additional 1,103 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of PHH Corp. during the second quarter valued at $120,000. Fox Run Management L.L.C. bought a new stake in shares of PHH Corp. during the third quarter valued at $163,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of PHH Corp. by 75.3% in the second quarter. BNP Paribas Arbitrage SA now owns 16,601 shares of the company’s stock valued at $221,000 after buying an additional 7,131 shares in the last quarter.
PHH Corp. Company Profile
PHH Corporation (PHH) is a non-bank mortgage originator and servicer of the United States residential mortgage loans. The Company conducts its business through two segments: Mortgage Production and Mortgage Servicing. Its Mortgage Production segment originates, purchases and sells mortgage loans through PHH Mortgage.
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