Ocwen Financial Corporation (NYSE:OCN) has received an average recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $3.17.

A number of research firms have recently weighed in on OCN. Compass Point cut shares of Ocwen Financial Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. BidaskClub raised shares of Ocwen Financial Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. ValuEngine cut shares of Ocwen Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $3.00 price objective on shares of Ocwen Financial Corporation in a research note on Wednesday, August 16th. Finally, Zacks Investment Research cut shares of Ocwen Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 5th.

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Ocwen Financial Corporation (NYSE OCN) opened at 2.88 on Wednesday. Ocwen Financial Corporation has a one year low of $2.12 and a one year high of $6.15. The company’s market cap is $376.87 million. The company has a 50-day moving average of $2.82 and a 200 day moving average of $3.55.

Ocwen Financial Corporation (NYSE:OCN) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.17. Ocwen Financial Corporation had a negative return on equity of 12.41% and a negative net margin of 5.95%. The company had revenue of $311.30 million for the quarter, compared to analyst estimates of $295.33 million. During the same period last year, the company earned ($0.71) earnings per share. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. Analysts anticipate that Ocwen Financial Corporation will post ($1.04) earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. First Quadrant L P CA boosted its stake in shares of Ocwen Financial Corporation by 0.3% in the first quarter. First Quadrant L P CA now owns 336,199 shares of the financial services provider’s stock worth $1,839,000 after buying an additional 1,000 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Ocwen Financial Corporation by 0.7% in the first quarter. Alliancebernstein L.P. now owns 143,140 shares of the financial services provider’s stock worth $783,000 after buying an additional 1,000 shares during the last quarter. Quinn Opportunity Partners LLC boosted its stake in shares of Ocwen Financial Corporation by 3.6% in the second quarter. Quinn Opportunity Partners LLC now owns 59,653 shares of the financial services provider’s stock worth $160,000 after buying an additional 2,100 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Ocwen Financial Corporation by 2.2% in the second quarter. Rhumbline Advisers now owns 128,831 shares of the financial services provider’s stock worth $347,000 after buying an additional 2,826 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Ocwen Financial Corporation by 7.1% in the first quarter. American International Group Inc. now owns 61,957 shares of the financial services provider’s stock worth $339,000 after buying an additional 4,088 shares during the last quarter. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Ocwen Financial Corporation Company Profile

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.

Analyst Recommendations for Ocwen Financial Corporation (NYSE:OCN)

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