PHH Corp. (PHH) Trading 5.1% Higher
PHH Corp. (NYSE:PHH) traded up 5.1% on Friday . The stock traded as high as $13.92 and last traded at $13.89, with a volume of 130,464 shares traded. The stock had previously closed at $13.21.
Several equities research analysts have recently weighed in on the company. Morgan Stanley reissued a “hold” rating on shares of PHH Corp. in a research report on Thursday, May 5th. Compass Point cut their target price on PHH Corp. from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Zacks Investment Research raised PHH Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Sterne Agee CRT lowered PHH Corp. from a “buy” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $13.00 in a research report on Tuesday, April 12th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $17.67.
The company has a 50-day moving average of $13.69 and a 200-day moving average of $12.70. The stock’s market cap is $742.29 million.
PHH Corp. (NYSE:PHH) last issued its earnings results on Wednesday, May 4th. The company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.36. During the same period last year, the firm earned ($0.38) earnings per share. The firm earned $157 million during the quarter, compared to the consensus estimate of $175.17 million. PHH Corp.’s revenue for the quarter was down 39.8% on a year-over-year basis. On average, equities research analysts expect that PHH Corp. will post ($1.46) EPS for the current year.
Several large investors recently modified their holdings of PHH. Engineers Gate Manager LP bought a new stake in shares of PHH Corp. during the fourth quarter valued at $1,172,000. Boston Partners increased its stake in shares of PHH Corp. by 4.8% in the fourth quarter. Boston Partners now owns 1,582,375 shares of the company’s stock valued at $25,634,000 after buying an additional 71,805 shares during the last quarter. Marshall Wace LLP increased its stake in shares of PHH Corp. by 73.2% in the fourth quarter. Marshall Wace LLP now owns 161,507 shares of the company’s stock valued at $2,616,000 after buying an additional 68,255 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of PHH Corp. by 56.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 84,526 shares of the company’s stock valued at $1,369,000 after buying an additional 30,518 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of PHH Corp. by 6.5% in the fourth quarter. California Public Employees Retirement System now owns 381,232 shares of the company’s stock valued at $6,176,000 after buying an additional 23,100 shares during the last quarter.
PHH Corporation (PHH) is an outsource provider of residential mortgage services. 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. The Mortgage Servicing segment services mortgage loans originated by PHH Mortgage and acts as a subservicer for certain clients that own the underlying servicing rights.
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