PHH Corp (PHH) Getting Somewhat Positive Media Coverage, Report Shows
News stories about PHH Corp (NYSE:PHH) have been trending somewhat positive this week, according to Accern. The research firm scores the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. PHH Corp earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave news articles about the credit services provider an impact score of 46.0150265114858 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the media stories that may have effected Accern Sentiment Analysis’s rankings:
- Director of PHH Corp (NYSE:PHH), Stein Kevin, sells 825 shares worth $11,553 (empowerednews.net)
- Washington Trust Hires Joseph Panniello as Mortgage Loan Officer (pressreleasepoint.com)
- PHH Corp (PHH) Director Kevin Stein Sells 825 Shares (americanbankingnews.com)
- PHH Corp. breached its 50 day moving average in a Bullish Manner : PHH-US : September 28, 2017 (finance.yahoo.com)
PHH Corp (NYSE PHH) traded down 0.64% on Friday, hitting $14.03. The stock had a trading volume of 28,675 shares. The stock’s market cap is $719.82 million. PHH Corp has a 12 month low of $11.76 and a 12 month high of $15.70. The firm’s 50 day moving average price is $13.85 and its 200-day moving average price is $13.55.
PHH Corp (NYSE:PHH) last released its quarterly earnings results on Tuesday, August 8th. The credit services provider reported ($0.81) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.31) by $0.50. The firm had revenue of $112.00 million for the quarter, compared to analyst estimates of $121.80 million. PHH Corp had a negative net margin of 55.15% and a negative return on equity of 20.67%. The business’s revenue for the quarter was down 42.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) EPS. On average, analysts forecast that PHH Corp will post ($1.57) EPS for the current year.
PHH Corp announced that its board has approved a stock buyback plan on Tuesday, August 8th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the credit services provider to reacquire up to 26.9% of its shares through a dutch auction. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.
PHH has been the topic of a number of recent research reports. Wedbush downgraded PHH Corp from an “outperform” rating to a “neutral” rating and set a $14.50 price objective on the stock. in a research report on Tuesday, June 20th. ValuEngine downgraded PHH Corp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded PHH Corp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. BidaskClub upgraded PHH Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $15.00 price objective on shares of PHH Corp in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. PHH Corp presently has a consensus rating of “Hold” and an average target price of $15.83.
In other news, Director Carroll R. Wetzel sold 21,000 shares of PHH Corp stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $14.25, for a total transaction of $299,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.52% of the stock is currently owned by insiders.
About PHH Corp
PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.
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