Brokerages Anticipate Ocwen Financial Corp (OCN) to Post -$0.37 Earnings Per Share
Wall Street brokerages forecast that Ocwen Financial Corp (NYSE:OCN) will post ($0.37) earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Ocwen Financial’s earnings. Ocwen Financial posted earnings of ($0.08) per share in the same quarter last year, which would indicate a negative year over year growth rate of 362.5%. The company is scheduled to announce its next earnings report on Wednesday, February 28th.
On average, analysts expect that Ocwen Financial will report full-year earnings of ($1.11) per share for the current year. For the next year, analysts anticipate that the firm will report earnings of ($1.11) per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ocwen Financial.
A number of hedge funds and other institutional investors have recently made changes to their positions in OCN. Rhumbline Advisers boosted its position in Ocwen Financial by 2.2% during the 2nd quarter. Rhumbline Advisers now owns 128,831 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 2,826 shares during the period. SG Americas Securities LLC boosted its position in Ocwen Financial by 5.3% during the 2nd quarter. SG Americas Securities LLC now owns 150,705 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 7,522 shares during the period. Alliancebernstein L.P. boosted its position in Ocwen Financial by 92.1% during the 2nd quarter. Alliancebernstein L.P. now owns 274,940 shares of the financial services provider’s stock worth $740,000 after acquiring an additional 131,800 shares during the period. Quantitative Investment Management LLC acquired a new stake in Ocwen Financial during the 2nd quarter worth about $327,000. Finally, Northern Trust Corp boosted its position in Ocwen Financial by 4.6% during the 2nd quarter. Northern Trust Corp now owns 2,243,305 shares of the financial services provider’s stock worth $6,034,000 after acquiring an additional 99,342 shares during the period. Hedge funds and other institutional investors own 45.87% of the company’s stock.
About Ocwen Financial
Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.
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