Ocwen Financial Corp (OCN) Earning Favorable News Coverage, AlphaOne Reports
News articles about Ocwen Financial Corp (NYSE:OCN) have been trending positive recently, according to AlphaOne Sentiment. The research firm, a unit of Accern, identifies negative and positive news coverage by analyzing more than 20 million news and blog sources in real-time. AlphaOne ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Ocwen Financial Corp earned a daily sentiment score of 0.26 on AlphaOne’s scale. AlphaOne also gave news headlines about the financial services provider an impact score of 81 out of 100, indicating that recent news coverage is very likely to have an impact on the company’s share price in the next few days.
Shares of Ocwen Financial Corp (NYSE:OCN) traded down 1.09% during trading on Tuesday, hitting $5.44. The stock had a trading volume of 1,349,719 shares. Ocwen Financial Corp has a one year low of $1.29 and a one year high of $6.15. The stock has a 50 day moving average price of $4.95 and a 200-day moving average price of $4.92. The stock’s market capitalization is $674.49 million.
Ocwen Financial Corp (NYSE:OCN) last announced its earnings results on Wednesday, February 22nd. The financial services provider reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.11. The company had revenue of $323.90 million for the quarter, compared to analyst estimates of $334.18 million. Ocwen Financial Corp had a negative return on equity of 25.54% and a negative net margin of 29.01%. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the company earned ($1.79) earnings per share. On average, equities research analysts predict that Ocwen Financial Corp will post ($0.49) earnings per share for the current year.
A number of research firms have commented on OCN. Zacks Investment Research lowered Ocwen Financial Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th. Compass Point reissued a “neutral” rating on shares of Ocwen Financial Corp in a research note on Thursday, January 12th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Ocwen Financial Corp in a research note on Saturday, February 25th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $5.00 price objective on shares of Ocwen Financial Corp in a research note on Monday, April 10th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $4.06.
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About Ocwen Financial Corp
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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