Ocwen Financial Corporation (OCN) Set to Announce Earnings on Wednesday
Ocwen Financial Corporation (NYSE:OCN) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, October 25th. Analysts expect Ocwen Financial Corporation to post earnings of ($0.28) per share for the quarter.
Ocwen Financial Corporation (NYSE:OCN) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.17). The business had revenue of $311.30 million for the quarter, compared to the consensus estimate 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 revenue was down 16.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.71) earnings per share. On average, analysts expect Ocwen Financial Corporation to post $-1.11 EPS for the current fiscal year and $-1.11 EPS for the next fiscal year.
Shares of Ocwen Financial Corporation (NYSE:OCN) opened at 3.69 on Wednesday. The company’s market capitalization is $482.87 million. Ocwen Financial Corporation has a one year low of $2.12 and a one year high of $6.15. The company’s 50-day moving average price is $3.23 and its 200-day moving average price is $3.11.
Several equities analysts have recently weighed in on the company. ValuEngine raised Ocwen Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. BidaskClub raised Ocwen Financial Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $3.00 price target on shares of Ocwen Financial Corporation in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.33.
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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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