PHH Corp. (PHH) Sees Strong Trading Volume
PHH Corp. (NYSE:PHH) saw unusually-strong trading volume on Tuesday . Approximately 1,175,042 shares were traded during trading, an increase of 55% from the previous session’s volume of 757,407 shares.The stock last traded at $15.51 and had previously closed at $15.01.
Several equities research analysts have recently commented on PHH shares. Zacks Investment Research raised PHH Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Morgan Stanley reissued a “hold” rating on shares of PHH Corp. in a research note on Thursday, May 5th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of PHH Corp. in a research note on Monday, August 8th. Finally, Keefe, Bruyette & Woods lowered PHH Corp. from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $14.92 to $17.00 in a research note on Thursday, August 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $14.33.
The company’s market cap is $830.20 million. The stock’s 50 day moving average price is $14.88 and its 200-day moving average price is $13.09.
PHH Corp. (NYSE:PHH) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.38. During the same quarter last year, the company earned ($1.43) EPS. The business had revenue of $196 million for the quarter, compared to analyst estimates of $182 million. PHH Corp.’s revenue was down 17.3% compared to the same quarter last year. On average, equities research analysts forecast that PHH Corp. will post ($1.11) earnings per share for the current year.
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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