Ocwen (NYSE:OCN) will be posting its quarterly earnings results before the market opens on Wednesday, May 2nd. Analysts expect Ocwen to post earnings of ($0.30) per share for the quarter.
Ocwen (NYSE:OCN) last announced its quarterly earnings data on Wednesday, February 28th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.14. The business had revenue of $276.77 million during the quarter, compared to the consensus estimate of $250.00 million. Ocwen had a negative net margin of 10.71% and a negative return on equity of 20.31%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, analysts expect Ocwen to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Shares of NYSE OCN opened at $4.16 on Wednesday. The company has a quick ratio of 5.42, a current ratio of 5.42 and a debt-to-equity ratio of 11.13. The stock has a market capitalization of $541.63, a price-to-earnings ratio of -4.43 and a beta of 1.19. Ocwen has a 1 year low of $2.22 and a 1 year high of $4.47.
Separately, ValuEngine downgraded shares of Ocwen from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Ocwen has an average rating of “Hold” and an average target price of $3.25.
In related news, major shareholder Leon G. Cooperman bought 29,187 shares of Ocwen stock in a transaction dated Friday, March 2nd. The shares were acquired at an average cost of $3.54 per share, with a total value of $103,321.98. Following the completion of the transaction, the insider now owns 1,000,000 shares in the company, valued at approximately $3,540,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Leon G. Cooperman bought 445,759 shares of Ocwen stock in a transaction dated Monday, February 5th. The shares were bought at an average cost of $3.20 per share, for a total transaction of $1,426,428.80. Following the completion of the transaction, the insider now owns 1,000,000 shares of the company’s stock, valued at approximately $3,200,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,021,592 shares of company stock worth $3,422,821. Corporate insiders own 2.36% of the company’s stock.
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Ocwen Company Profile
Ocwen Financial Corporation, a financial services holding company, originates and services loans in the United States, the United States Virgin Islands, India, and Philippines. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate.
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