Ocwen Financial (OCN) to Release Earnings on Thursday

Ocwen Financial (NYSE:OCN) is set to announce its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.21 per share for the quarter.

Ocwen Financial (NYSE:OCN) last issued its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.35. The business had revenue of $277.30 million for the quarter, compared to analysts’ expectations of $260.23 million. Ocwen Financial had a negative net margin of 5.97% and a positive return on equity of 10.21%. On average, analysts expect Ocwen Financial to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Ocwen Financial Trading Down 0.5 %

NYSE:OCN traded down $0.12 during trading hours on Thursday, reaching $25.11. The company’s stock had a trading volume of 694 shares, compared to its average volume of 11,646. The firm has a 50-day simple moving average of $25.64 and a 200-day simple moving average of $26.59. The firm has a market capitalization of $194.98 million, a price-to-earnings ratio of -2.94 and a beta of 1.88. Ocwen Financial has a 1 year low of $21.15 and a 1 year high of $35.79. The company has a debt-to-equity ratio of 23.13, a quick ratio of 18.14 and a current ratio of 18.14.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OCN. Keefe, Bruyette & Woods dropped their price objective on shares of Ocwen Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Tuesday, April 9th. B. Riley reaffirmed a “buy” rating and set a $50.00 price target on shares of Ocwen Financial in a research note on Tuesday, March 26th.

About Ocwen Financial

Ocwen Financial Corporation, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.