Somewhat Favorable News Coverage Somewhat Unlikely to Impact Ocwen Financial Corporation (OCN) Stock Price
Media stories about Ocwen Financial Corporation (NYSE:OCN) have been trending somewhat positive this week, Accern Sentiment Analysis reports. Accern ranks the sentiment of press coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Ocwen Financial Corporation earned a news sentiment score of 0.06 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 46.5082189491839 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Here are some of the news stories that may have effected Accern Sentiment’s analysis:
- -$0.38 EPS Expected for Ocwen Financial Corporation (OCN) This Quarter (americanbankingnews.com)
- Ocwen Financial Corporation (NYSE:OCN) Raised to “Buy” at BidaskClub (americanbankingnews.com)
- A Technical Strategy for Ocwen Financial Corporation (OCN), Digital Realty Trust, Inc. (DLR) – AllStockNews (allstocknews.com)
- Trending Stock Buzzer: Ocwen Financial Corp (OCN)Post Registrar … – Post Registrar (postregistrar.com)
Shares of Ocwen Financial Corporation (NYSE OCN) traded down 1.73% during mid-day trading on Friday, hitting $2.84. The company’s stock had a trading volume of 949,236 shares. Ocwen Financial Corporation has a 52-week low of $2.12 and a 52-week high of $6.15. The stock’s 50 day moving average price is $2.81 and its 200 day moving average price is $3.72. The company’s market cap is $371.64 million.
Ocwen Financial Corporation (NYSE:OCN) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.17. The firm had revenue of $311.30 million during the quarter, compared to analysts’ expectations of $295.33 million. Ocwen Financial Corporation had a negative return on equity of 12.41% and a negative net margin of 5.95%. The business’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.71) earnings per share. Equities analysts forecast that Ocwen Financial Corporation will post ($1.21) EPS for the current year.
A number of analysts recently commented on the company. BidaskClub upgraded Ocwen Financial Corporation from a “hold” rating to a “buy” rating in a report on Saturday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Ocwen Financial Corporation in a report on Saturday, April 22nd. Zacks Investment Research lowered Ocwen Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 5th. ValuEngine upgraded Ocwen Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Piper Jaffray Companies upgraded Ocwen Financial Corporation from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $2.00 to $3.50 in a report on Monday, May 1st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $3.75.
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About Ocwen Financial Corporation
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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