Press coverage about Ocwen Financial Corp (NYSE:OCN) has trended somewhat negative this week, according to Alpha One. The research firm, a division of Accern, identifies negative and positive news coverage by reviewing more than twenty million blog and news sources in real time. Alpha One ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Ocwen Financial Corp earned a news sentiment score of -0.09 on Alpha One’s scale. Alpha One also gave news articles about the financial services provider an impact score of 82 out of 100, meaning that recent news coverage is very likely to have an effect on the stock’s share price in the near term.
These are some of the media stories that may have effected Alpha One Sentiment Analysis’s scoring:
- Pomerantz Law Firm Announces the Filing of a Class Action against Ocwen Financial Corporation and Certain Officers – OCN (feeds.benzinga.com)
- Mortgage servicer Ocwen botched loans so badly, its own exec called its system a train wreck, CFPB says (latimes.com)
- A Contrarian Call: Compass Point Upgrades Banking Regulator Magnet Ocwen Financial (feeds.benzinga.com)
- Ocwen Financial Corp (OCN) Lifted to Buy at Compass Point (americanbankingnews.com)
- Ocwen Prepared to Vigorously Defend Itself Against CFPB: Bureaus Action Ignores Critical Facts and Will Harm Consumers (4-traders.com)
Ocwen Financial Corp (NYSE:OCN) traded down 2.81% on Friday, reaching $2.42. 31,629,929 shares of the company traded hands. The stock has a 50-day moving average price of $4.95 and a 200-day moving average price of $4.92. Ocwen Financial Corp has a 52-week low of $1.29 and a 52-week high of $6.15. The firm’s market cap is $300.05 million. Ocwen Financial Corp also was the target of unusually large options trading activity on Thursday. Stock traders purchased 18,448 put options on the company. This represents an increase of 1,080% compared to the average daily volume of 1,563 put options.
Ocwen Financial Corp (NYSE:OCN) last released its quarterly earnings data on Wednesday, February 22nd. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.11. The business earned $323.90 million during the quarter, compared to analysts’ expectations of $334.18 million. Ocwen Financial Corp had a negative net margin of 29.01% and a negative return on equity of 25.54%. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.79) EPS. Analysts anticipate that Ocwen Financial Corp will post ($0.49) earnings per share for the current fiscal year.
OCN has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Ocwen Financial Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, December 28th. Compass Point reissued a “neutral” rating on shares of Ocwen Financial Corp in a research report on Thursday, January 12th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Ocwen Financial Corp in a research report on Saturday, February 25th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $5.00 price target on shares of Ocwen Financial Corp in a research report on Monday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Ocwen Financial Corp currently has an average rating of “Hold” and an average price target of $3.81.
About Ocwen Financial Corp
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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