PHH Corp. (PHH) Trading Down 2.6%
PHH Corp. (NYSE:PHH)’s share price traded down 2.6% during mid-day trading on Monday . The company traded as low as $15.36 and last traded at $15.41, with a volume of 197,980 shares. The stock had previously closed at $15.82.
A number of research firms recently weighed in on PHH. Keefe, Bruyette & Woods lowered shares of PHH Corp. from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $14.92 to $17.00 in a research report on Thursday, August 11th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of PHH Corp. in a research report on Monday, August 8th. Morgan Stanley reiterated a “hold” rating on shares of PHH Corp. in a research report on Thursday, May 5th. Finally, Zacks Investment Research upgraded shares of PHH Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Four 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 a consensus rating of “Hold” and an average target price of $14.33.
The company has a 50 day moving average of $14.59 and a 200 day moving average of $12.87. The company’s market cap is $819.50 million.
PHH Corp. (NYSE:PHH) last announced its earnings results on Monday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.38. The business earned $196 million during the quarter, compared to analyst estimates of $182 million. During the same period in the previous year, the company earned ($1.43) earnings per share. The business’s revenue for the quarter was down 17.3% on a year-over-year basis. Equities research analysts predict that PHH Corp. will post ($1.11) earnings per share for the current fiscal year.
Several institutional investors have made changes to their positions in the stock. Rhumbline Advisers raised its position in shares of PHH Corp. by 1.4% in the fourth quarter. Rhumbline Advisers now owns 72,385 shares of the company’s stock worth $1,173,000 after buying an additional 985 shares during the last quarter. Swiss National Bank raised its position in shares of PHH Corp. by 15.7% in the fourth quarter. Swiss National Bank now owns 78,700 shares of the company’s stock worth $1,275,000 after buying an additional 10,700 shares during the last quarter. Finally, Marshall Wace LLP raised its position 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 worth $2,616,000 after buying an additional 68,255 shares during the last quarter.
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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