Brokers

Brokers Set Expectations for Ocwen Financial Co.’s Q3 2022 Earnings (NYSE:OCN)


Ocwen Financial Co. (NYSE:OCNGet Rating) – Jefferies Financial Group lowered their Q3 2022 earnings estimates for Ocwen Financial in a note issued to investors on Wednesday, May 18th. Jefferies Financial Group analyst K. Joseph now forecasts that the financial services provider will earn $1.13 per share for the quarter, down from their prior estimate of $1.55. Jefferies Financial Group also issued estimates for Ocwen Financial’s Q4 2022 earnings at $1.16 EPS, Q1 2023 earnings at $1.54 EPS, Q2 2023 earnings at $1.19 EPS, Q3 2023 earnings at $1.26 EPS and Q4 2023 earnings at $1.23 EPS.

Ocwen Financial (NYSE:OCNGet Rating) last posted its quarterly earnings data on Friday, February 25th. The financial services provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $2.46 by ($2.66). Ocwen Financial had a return on equity of 6.98% and a net margin of 6.30%. The business had revenue of $293.96 million for the quarter, compared to analyst estimates of $52.17 million.

Other equities analysts have also recently issued research reports about the company. BTIG Research started coverage on Ocwen Financial in a report on Wednesday, April 20th. They issued a “neutral” rating for the company. B. Riley decreased their price target on Ocwen Financial from $56.00 to $50.00 in a research report on Wednesday, March 16th. Zacks Investment Research upgraded Ocwen Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, StockNews.com began coverage on Ocwen Financial in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Ocwen Financial has an average rating of “Hold” and an average target price of $42.67.

Ocwen Financial stock opened at $22.97 on Friday. The business has a 50 day moving average price of $22.32 and a two-hundred day moving average price of $30.78. The company has a quick ratio of 17.58, a current ratio of 17.58 and a debt-to-equity ratio of 16.12. The stock has a market cap of $212.47 million, a price-to-earnings ratio of 3.31 and a beta of 1.94. Ocwen Financial has a 12 month low of $17.76 and a 12 month high of $41.92.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Ocwen Financial by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 168,343 shares of the financial services provider’s stock worth $4,735,000 after purchasing an additional 5,209 shares during the period. Dorsey Wright & Associates acquired a new stake in Ocwen Financial during the fourth quarter worth approximately $54,000. Citigroup Inc. raised its position in shares of Ocwen Financial by 140.2% in the third quarter. Citigroup Inc. now owns 932 shares of the financial services provider’s stock valued at $26,000 after buying an additional 544 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ocwen Financial in the fourth quarter valued at approximately $138,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Ocwen Financial in the third quarter valued at approximately $142,000. Institutional investors own 59.89% of the company’s stock.

Ocwen Financial Company Profile (Get Rating)

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. The company operates through Servicing and Originations segments. It provides commercial mortgage loan servicing, special servicing, and asset management services, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans to owners of mortgage loans and foreclosed real estate.

Further Reading

Earnings History and Estimates for Ocwen Financial (NYSE:OCN)



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