PHH Corp (PHH) to Release Earnings on Tuesday
PHH Corp (NYSE:PHH) is set to post its quarterly earnings results after the market closes on Tuesday, November 7th. Analysts expect PHH Corp to post earnings of ($0.72) per share for the quarter.
PHH Corp (NYSE:PHH) last posted its earnings results on Tuesday, August 8th. The credit services provider reported ($0.81) EPS for the quarter, topping the consensus estimate of ($1.31) by $0.50. The business had revenue of $112.00 million for the quarter, compared to the consensus estimate of $121.80 million. PHH Corp had a negative net margin of 55.15% and a negative return on equity of 20.67%. The firm’s revenue was down 42.9% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. On average, analysts expect PHH Corp to post $-6.3 EPS for the current fiscal year and $-0.75 EPS for the next fiscal year.
PHH Corp (NYSE PHH) opened at 13.36 on Tuesday. PHH Corp has a 12 month low of $11.76 and a 12 month high of $15.70. The stock has a 50 day moving average of $13.64 and a 200-day moving average of $13.71. The firm’s market cap is $685.45 million.
PHH Corp declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 8th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the credit services provider to reacquire up to 26.9% of its stock through a dutch auction. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
PHH has been the topic of several recent analyst reports. ValuEngine cut shares of PHH Corp from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of PHH Corp from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. BidaskClub upgraded shares of PHH Corp from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $15.00 target price on shares of PHH Corp in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. PHH Corp has an average rating of “Hold” and an average target price of $15.83.
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In related news, Director Carroll R. Wetzel sold 21,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $14.25, for a total value of $299,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.52% of the company’s stock.
PHH Corp Company Profile
PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.
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