PHH Corp. (PHH) Receives Consensus Rating of “Hold” from Analysts
Shares of PHH Corp. (NYSE:PHH) have received an average recommendation of “Hold” from the seven research firms that are presently covering the stock. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $14.75.
Several research firms have recently commented on PHH. Wedbush began coverage on PHH Corp. in a report on Monday, October 10th. They set a “neutral” rating and a $16.00 price objective for the company. Keefe, Bruyette & Woods downgraded PHH Corp. from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $14.92 to $17.00 in a report on Thursday, August 11th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of PHH Corp. in a report on Monday, August 8th. Finally, Zacks Investment Research upgraded PHH Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th.
Shares of PHH Corp. (NYSE:PHH) traded up 0.88% during midday trading on Monday, reaching $14.93. The company’s stock had a trading volume of 47,027 shares. PHH Corp. has a one year low of $8.26 and a one year high of $18.68. The stock’s market cap is $799.16 million. The firm has a 50-day moving average of $14.73 and a 200-day moving average of $13.85.
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PHH Corp. (NYSE:PHH) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.38. The firm earned $196 million during the quarter, compared to the consensus estimate of $182 million. PHH Corp. had a negative return on equity of 6.33% and a negative net margin of 22.64%. The company’s quarterly revenue was down 17.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.43) earnings per share. On average, analysts forecast that PHH Corp. will post ($1.17) EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in PHH. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of PHH Corp. during the second quarter worth about $435,000. First Trust Advisors LP acquired a new position in shares of PHH Corp. during the second quarter worth about $356,000. California Public Employees Retirement System increased its position in shares of PHH Corp. by 10.7% in the second quarter. California Public Employees Retirement System now owns 554,432 shares of the company’s stock worth $7,385,000 after buying an additional 53,700 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of PHH Corp. during the second quarter worth about $499,000. Finally, Oregon Public Employees Retirement Fund increased its position in shares of PHH Corp. by 25.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 26,845 shares of the company’s stock worth $358,000 after buying an additional 5,500 shares during the period.
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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