Ocwen Financial Corporation (OCN) Shares Up 4.4%
Ocwen Financial Corporation (NYSE:OCN) shot up 4.4% on Monday . The stock traded as high as $3.60 and last traded at $3.54, with a volume of 1,650,966 shares trading hands. The stock had previously closed at $3.39.
Several research firms have weighed in on OCN. Keefe, Bruyette & Woods lowered their price target on shares of Ocwen Financial Corporation from $5.00 to $3.00 and set a “market perform” rating for the company in a research report on Thursday, July 28th. Oppenheimer Holdings Inc. reiterated a “” rating on shares of Ocwen Financial Corporation in a research report on Tuesday, August 2nd. Finally, Piper Jaffray Cos. lowered their price target on shares of Ocwen Financial Corporation from $2.50 to $2.00 and set a “neutral” rating for the company in a research report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $3.93.
The stock’s market cap is $455.03 million. The firm has a 50-day moving average price of $2.47 and a 200 day moving average price of $2.49.
Ocwen Financial Corporation (NYSE:OCN) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.43) by $0.28. The firm had revenue of $373.05 million for the quarter, compared to the consensus estimate of $324.05 million. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period last year, the business posted $0.08 earnings per share. Analysts anticipate that Ocwen Financial Corporation will post ($2.24) EPS for the current year.
Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, operates as a mortgage company. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its core residential servicing business.
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