Equities analysts expect that Ocwen Financial Corporation (NYSE:OCN) will report earnings of ($0.37) per share for the current quarter, Zacks reports. Zero analysts have made estimates for Ocwen Financial Corporation’s earnings. Ocwen Financial Corporation reported earnings of ($0.08) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 362.5%. The firm is expected to report its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that Ocwen Financial Corporation will report full year earnings of ($1.11) per share for the current fiscal year. For the next fiscal year, analysts forecast that the business will post earnings of ($1.11) per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover Ocwen Financial Corporation.
A number of research firms have issued reports on OCN. ValuEngine raised shares of Ocwen Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub raised shares of Ocwen Financial Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $3.00 price target on shares of Ocwen Financial Corporation in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Ocwen Financial Corporation has a consensus rating of “Hold” and a consensus target price of $3.33.
A number of institutional investors have recently added to or reduced their stakes in OCN. Dimensional Fund Advisors LP grew its stake in Ocwen Financial Corporation by 557.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,093,048 shares of the financial services provider’s stock valued at $16,919,000 after acquiring an additional 2,622,863 shares during the period. Sound Point Capital Management LP acquired a new stake in Ocwen Financial Corporation in the 2nd quarter valued at $6,776,000. California Public Employees Retirement System grew its stake in Ocwen Financial Corporation by 94.7% in the 2nd quarter. California Public Employees Retirement System now owns 572,100 shares of the financial services provider’s stock valued at $1,539,000 after acquiring an additional 278,200 shares during the period. GLG Partners LP acquired a new stake in Ocwen Financial Corporation in the 2nd quarter valued at $515,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Ocwen Financial Corporation in the 2nd quarter valued at $481,000. 46.48% of the stock is currently owned by hedge funds and other institutional investors.
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Ocwen Financial Corporation (NYSE:OCN) traded up $0.07 on Thursday, reaching $3.24. 1,747,027 shares of the company’s stock were exchanged, compared to its average volume of 1,828,056. Ocwen Financial Corporation has a 12 month low of $2.12 and a 12 month high of $6.15. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 9.82.
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.
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