Brokerages Anticipate Ocwen Financial Corporation (OCN) to Post -$0.37 EPS

Brokerages expect Ocwen Financial Corporation (NYSE:OCN) to report ($0.37) earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have provided estimates for Ocwen Financial Corporation’s earnings. Ocwen Financial Corporation posted 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 business is expected to issue its next earnings report on Wednesday, February 28th.

According to Zacks, 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 expect that the firm will post earnings of ($1.11) per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Ocwen Financial Corporation.

Several brokerages have recently commented on OCN. ValuEngine lowered Ocwen Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. BidaskClub lowered Ocwen Financial Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $3.00 price target on shares of Ocwen Financial Corporation in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Ocwen Financial Corporation currently has an average rating of “Hold” and a consensus price target of $3.33.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Shell Asset Management Co. acquired a new position in Ocwen Financial Corporation during the 3rd quarter worth about $455,000. Paloma Partners Management Co acquired a new position in Ocwen Financial Corporation during the 1st quarter worth about $104,000. Dynamic Technology Lab Private Ltd acquired a new position in Ocwen Financial Corporation during the 2nd quarter worth about $104,000. Voya Investment Management LLC lifted its stake in Ocwen Financial Corporation by 17.1% during the 2nd quarter. Voya Investment Management LLC now owns 54,338 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 7,936 shares in the last quarter. Finally, Quinn Opportunity Partners LLC lifted its stake in Ocwen Financial Corporation by 3.6% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 59,653 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 2,100 shares in the last quarter. 46.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ocwen Financial Corporation (NYSE:OCN) traded down $0.03 during trading hours on Thursday, reaching $3.16. The company’s stock had a trading volume of 2,082,435 shares, compared to its average volume of 2,950,151. Ocwen Financial Corporation has a 12 month low of $2.12 and a 12 month high of $6.15. The company has a debt-to-equity ratio of 9.82, a current ratio of 5.07 and a quick ratio of 5.07.

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About Ocwen Financial Corporation

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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