Ocwen Financial Corp’s “Buy” Rating Reaffirmed at Compass Point (OCN)
Shares of Ocwen Financial Corp (NYSE:OCN) opened at 38.40 on Friday. Ocwen Financial Corp has a 52 week low of $31.31 and a 52 week high of $60.18. The stock’s 50-day moving average is $34.92 and its 200-day moving average is $41.88. The company has a market cap of $5.179 billion and a price-to-earnings ratio of 16.81.
Ocwen Financial Corp (NYSE:OCN) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by $0.44. The company had revenue of $551.30 million for the quarter, compared to the consensus estimate of $570.58 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 46.7% on a year-over-year basis. On average, analysts predict that Ocwen Financial Corp will post $3.33 earnings per share for the current fiscal year.
A number of other firms have also recently commented on OCN. Analysts at Zacks downgraded shares of Ocwen Financial Corp from a “neutral” rating to an “underperform” rating in a research note on Wednesday, May 21st. They now have a $30.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Ocwen Financial Corp in a research note on Friday, May 2nd. They now have a $42.00 price target on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Ocwen Financial Corp from $52.00 to $42.00 in a research note on Friday, May 2nd. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $46.71.
Ocwen Financial Corporation is a financial services holding company. The Company is engaged in the servicing and origination of mortgage loans.
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