Ocwen Financial Corp had a negative return on equity of 25.54% and a negative net margin of 29.01%. The company earned $321.90 million during the quarter, compared to analyst estimates of $302.90 million. The firm's revenue was down 10.6% compared to the same quarter previous year. Despite Monday's rally, the stock has still tumbled 40% year to date, while the SPDR Financial Select Sector ETF has gained 2.0% and the S&P 500 has advanced 6.8%.
Shares of Ocwen Financial Corp (NYSE:OCN) opened at 2.99 on Monday. The stock had a trading volume of 5,366,506 shares. Ocwen Financial Corp has recorded a 50-day moving average of $4.55 and a 200-day moving average of $4.85. The firm's market capitalization is $370.72 million. Ocwen Financial Corp has a 1-year low of $1.29 and a 1-year high of $6.15.
Ocwen Financial Corp (NYSE:OCN) traded down 5.000% during trading on Tuesday, hitting $2.945.
Stock is now moving with a negative distance from the 200 day simple moving average of approximately -27.37%, and has a poor year to date (YTD) performance of -42.49% which means the stock is constantly subtracting to its value from the previous fiscal year end price. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The same day the states announced the enforcement actions, the Consumer Financial Protection Bureau sued the servicer for servicing violations, accusing the company of "failing borrowers at every stage of the mortgage process". Finally, Metropolitan Life Insurance Co.
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Maximum and minimum EPS estimate for the current quarter is projected at $-0.03 and $-0.22, respectively, according to 4 analysts. Analysts are forecasting earnings of $-0.22 on a per share basis this quarter. Phoenix Investment Adviser LLC bought a new position in shares of Ocwen Financial Corp during the third quarter valued at $1,163,000. NY increased its stake in shares of Ocwen Financial Corp by 1.7% in the fourth quarter. The short ratio in the company's stock is documented at 2.89 and the short float is around of 15.45%.
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Several research firms have recently weighed in on OCN. Compass Point reissued a "neutral" rating on shares of Ocwen Financial Corp in a research note on Thursday, January 12th.
Faris said he doesn't anticipate that state bans on originations and the acquisition of new mortgage servicing rights will lead to long-term financial difficulties for Ocwen, but warned shareholders that the actions could lead to short-term dips in origination figures. "Ultimately, through all this investigation into the company's performance the analyst decides whether their stock is a "buy", sell" or hold". At recent closing price of $8.13, WETF has a chance to add $1.81 or 22.26% in 52 weeks, based on mean target price ($9.94) placed by analysts.The analyst consensus opinion of 3.1 looks like a sell.