PHH Corp (NYSE:PHH) released its quarterly earnings results on Tuesday. The credit services provider reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.38), Bloomberg Earnings reports. PHH Corp had a negative net margin of 71.84% and a negative return on equity of 24.94%. The business had revenue of $121.00 million during the quarter, compared to analyst estimates of $61.00 million. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. The firm’s quarterly revenue was down 38.6% on a year-over-year basis.

PHH Corp (NYSE:PHH) opened at $11.47 on Thursday. PHH Corp has a one year low of $11.76 and a one year high of $15.70. The company has a debt-to-equity ratio of 1.34, a current ratio of 5.61 and a quick ratio of 5.61.

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PHH Corp declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 8th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the credit services provider to repurchase up to 26.9% of its shares through a dutch auction. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

In other PHH Corp news, Director Carroll R. Wetzel sold 21,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $14.25, for a total value of $299,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.52% of the company’s stock.

A number of equities research analysts have recently weighed in on PHH shares. BidaskClub upgraded shares of PHH Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.00 price target on shares of PHH Corp in a research report on Tuesday, September 12th. ValuEngine upgraded shares of PHH Corp from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of PHH Corp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $15.83.

About PHH Corp

PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.

Earnings History for PHH Corp (NYSE:PHH)

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