Ocwen Financial (OCN) to Release Quarterly Earnings on Thursday

Ocwen Financial (NYSE:OCN) is scheduled to issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.21 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Ocwen Financial (NYSE:OCN) last posted its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.09 by $0.35. The business had revenue of $277.30 million for the quarter, compared to analysts’ expectations of $260.23 million. Ocwen Financial had a negative net margin of 5.97% and a positive return on equity of 10.21%. On average, analysts expect Ocwen Financial to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Ocwen Financial Stock Down 0.4 %

OCN traded down $0.11 during trading on Tuesday, hitting $24.52. The company had a trading volume of 1,307 shares, compared to its average volume of 11,769. The company has a market capitalization of $190.28 million, a PE ratio of -2.88 and a beta of 1.88. Ocwen Financial has a one year low of $21.15 and a one year high of $35.79. The firm’s 50-day moving average price is $25.39 and its 200 day moving average price is $26.62. The company has a quick ratio of 18.14, a current ratio of 18.14 and a debt-to-equity ratio of 23.13.

Analysts Set New Price Targets

OCN has been the topic of several research reports. B. Riley reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Ocwen Financial in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods cut their price target on shares of Ocwen Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 9th.

About Ocwen Financial

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.