B. Riley Weighs in on Ocwen Financial Co.’s Q1 2024 Earnings (NYSE:OCN)

Ocwen Financial Co. (NYSE:OCN) – B. Riley issued their Q1 2024 EPS estimates for shares of Ocwen Financial in a research note issued on Tuesday, March 26th. B. Riley analyst M. Howlett expects that the financial services provider will earn $1.42 per share for the quarter. B. Riley has a “Buy” rating and a $50.00 price objective on the stock. The consensus estimate for Ocwen Financial’s current full-year earnings is $5.15 per share. B. Riley also issued estimates for Ocwen Financial’s Q2 2024 earnings at $1.44 EPS, Q3 2024 earnings at $1.53 EPS, Q4 2024 earnings at $1.61 EPS, FY2024 earnings at $6.00 EPS, Q1 2025 earnings at $1.76 EPS, Q2 2025 earnings at $1.91 EPS, Q3 2025 earnings at $2.08 EPS, Q4 2025 earnings at $2.26 EPS and FY2025 earnings at $8.00 EPS.

Separately, StockNews.com raised shares of Ocwen Financial from a “sell” rating to a “hold” rating in a research report on Friday, December 15th.

Ocwen Financial Stock Performance

NYSE:OCN opened at $26.77 on Thursday. The company has a fifty day simple moving average of $27.33 and a two-hundred day simple moving average of $26.67. Ocwen Financial has a 52 week low of $21.15 and a 52 week high of $35.79. The company has a debt-to-equity ratio of 23.13, a quick ratio of 18.14 and a current ratio of 18.14.

Ocwen Financial (NYSE:OCN) last posted its earnings results on Tuesday, February 27th. The financial services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.35. The firm had revenue of $277.30 million during the quarter, compared to the consensus estimate of $260.23 million. Ocwen Financial had a negative net margin of 5.97% and a positive return on equity of 10.21%.

Institutional Investors Weigh In On Ocwen Financial

Institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Ocwen Financial by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,843 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 400 shares during the period. Royal Bank of Canada increased its stake in shares of Ocwen Financial by 16.3% during the second quarter. Royal Bank of Canada now owns 3,139 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 439 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Ocwen Financial by 107.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,045 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 541 shares during the period. Rhumbline Advisers increased its stake in shares of Ocwen Financial by 9.5% during the third quarter. Rhumbline Advisers now owns 7,677 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 665 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of Ocwen Financial by 82.7% during the second quarter. Quantbot Technologies LP now owns 1,485 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 672 shares during the period. 70.16% of the stock is owned by hedge funds and other institutional investors.

Ocwen Financial Company Profile

Ocwen Financial Corporation, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.