Ocwen Financial Corporation (OCN) Stock Price Down 4.5%
Shares of Ocwen Financial Corporation (NYSE:OCN) were down 4.5% on Thursday . The stock traded as low as $3.24 and last traded at $3.40, with a volume of 3,541,316 shares. The stock had previously closed at $3.56.
Several analysts have weighed in on OCN shares. Oppenheimer Holdings Inc. reiterated a “” rating on shares of Ocwen Financial Corporation in a research note on Tuesday, August 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Ocwen Financial Corporation from $5.00 to $3.00 and set a “market perform” rating for the company in a research note on Thursday, July 28th. Finally, Piper Jaffray Cos. dropped their price objective on shares of Ocwen Financial Corporation from $2.50 to $2.00 and set a “neutral” rating for the company in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $3.93.
The company’s 50-day moving average is $2.52 and its 200-day moving average is $2.50. The stock’s market cap is $416.59 million.
Ocwen Financial Corporation (NYSE:OCN) last posted its earnings results on Wednesday, July 27th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by $0.28. During the same period last year, the firm posted $0.08 EPS. The firm had revenue of $373.05 million for the quarter, compared to analysts’ expectations of $324.05 million. Ocwen Financial Corporation’s quarterly revenue was down 19.5% on a year-over-year basis. On average, equities research analysts predict that Ocwen Financial Corporation will post ($2.24) earnings per share 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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