Ocwen Financial Corp’s “Buy” Rating Reaffirmed at Compass Point (OCN)
Ocwen Financial Corp (NYSE:OCN)‘s stock had its “buy” rating restated by investment analysts at Compass Point in a note issued to investors on Wednesday, American Banking News reports. They currently have a $43.00 price target on the stock, down from their previous price target of $54.00. Compass Point’s price objective points to a potential upside of 33.79% from the company’s current price.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Oppenheimer cut their price target on shares of Ocwen Financial Corp from $56.00 to $48.00 in a research note on Friday, May 2nd. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.75.
Shares of Ocwen Financial Corp (NYSE:OCN) opened at 32.26 on Wednesday. Ocwen Financial Corp has a 52 week low of $31.77 and a 52 week high of $60.18. The stock’s 50-day moving average is $38.13 and its 200-day moving average is $46.51. The company has a market cap of $4.367 billion and a price-to-earnings ratio of 14.29.
Ocwen Financial Corp (NYSE:OCN) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 46.7% on a year-over-year basis. Analysts expect that Ocwen Financial Corp will post $3.63 EPS for the current fiscal year.
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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