Ocwen Financial Co. (NYSE:OCN – Get Rating) – Equity researchers at Jefferies Financial Group have cut their third quarter 2022 earnings per share (EPS) estimates for Ocwen Financial in a research note released to investors on Wednesday 18 may. Jefferies Financial Group analyst K. Joseph now expects the financial services provider to earn $1.13 per share for the quarter, down from its previous forecast of $1.55. Jefferies Financial Group also released estimates for Ocwen Financial Q4 2022 earnings at $1.16 EPS, Q1 2023 earnings at $1.54 EPS, Q2 2023 earnings at $1.19 EPS, Q3 2023 earnings at $1.26 EPS and Q4 2023 earnings at $1.23 EPS. Ocwen Financial (NYSE:OCN – Get Rating) last announced its results on Friday, February 25. The financial services provider reported ($0.20) earnings per share for the quarter, missing analyst consensus estimates of $2.46 per ($2.66). The company posted revenue of $293.96 million for the quarter, versus a consensus estimate of $52.17 million. Ocwen Financial had a net margin of 6.30% and a return on equity of 6.98%.
A number of other research analysts have also recently released reports on the stock. Zacks Investment Research upgraded shares of Ocwen Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday. BTIG Research took over Ocwen Financial’s stock coverage in a Wednesday, April 20 research report. They set a “neutral” rating for the company. B. Riley lowered his price target on Ocwen Financial shares from $56.00 to $50.00 in a Wednesday, March 16 research report. Finally, StockNews.com took over coverage of Ocwen Financial stocks in a Thursday, March 31 research report. They set a “hold” rating for the company. Three investment analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.67.
OCN shares opened at $22.97 on Friday. The company’s 50-day moving average price is $22.32 and its 200-day moving average price is $30.78. The company has a market capitalization of $212.47 million, a price-earnings ratio of 3.31 and a beta of 1.94. The company has a current ratio of 17.58, a quick ratio of 17.58 and a debt ratio of 16.12. Ocwen Financial has a 1-year low of $17.76 and a 1-year high of $41.92.
A number of institutional investors have recently changed their stake in the company. Captrust Financial Advisors bought a new position in Ocwen Financial in the first quarter worth approximately $31,000. Cooper Creek Partners Management LLC increased its stake in shares of Ocwen Financial by 30.8% in the first quarter. Cooper Creek Partners Management LLC now owns 159,798 shares of the financial services provider worth $3,797,000 after acquiring an additional 37,651 shares during the period. State Street Corp increased its stake in shares of Ocwen Financial by 5.5% in the first quarter. State Street Corp now owns 144,482 shares of the financial services provider worth $3,433,000 after acquiring an additional 7,591 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Ocwen Financial in the first quarter for a value of approximately $230,000. Finally, Invesco Ltd. increased its stake in Ocwen Financial shares by 10.5% in the first quarter. Invesco Ltd. now owns 21,781 shares of the financial services provider worth $518,000 after acquiring an additional 2,075 shares during the period. 59.89% of the shares are held by institutional investors and hedge funds.
Ocwen Financial Company Profile (Get an assessment)
Ocwen Financial Corporation, a financial services company, originates and services mortgages in the United States, US Virgin Islands, India and the Philippines. The Company operates through Servicing and Originations segments. It provides commercial mortgage servicing services, special services and asset management, as well as residential mortgage services, such as conventional term and reverse, government-insured and agencyless loans, including reverse mortgages to mortgage owners. and seized real estate.
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