Onity Group (NYSE:ONIT) Posts Quarterly Earnings Results, Misses Estimates By $0.95 EPS

Onity Group (NYSE:ONIT) released its earnings results on Thursday. The company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.95), Zacks reports. Onity Group had a net margin of 1.41% and a return on equity of 21.05%.

Onity Group Stock Performance

ONIT traded down $0.23 during midday trading on Friday, hitting $35.76. 54,942 shares of the company were exchanged, compared to its average volume of 42,950. The company’s 50 day simple moving average is $33.47 and its 200 day simple moving average is $30.83. The firm has a market capitalization of $281.40 million, a price-to-earnings ratio of 23.68 and a beta of 1.87. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28. Onity Group has a 1-year low of $22.40 and a 1-year high of $41.27.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ONIT shares. BTIG Research raised Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, December 9th. B. Riley raised Onity Group to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their target price on Onity Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th.

About Onity Group

Onity Group Inc, 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.