Ocwen Financial (OCN) Set to Announce Quarterly Earnings on Thursday

Ocwen Financial (NYSE:OCN) will be announcing 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 posted its earnings results on Tuesday, February 27th. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.35. The company had revenue of $277.30 million during 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 Stock Performance

Shares of OCN stock traded down $0.12 on Thursday, reaching $25.11. The stock had a trading volume of 694 shares, compared to its average volume of 11,646. The company has a quick ratio of 18.14, a current ratio of 18.14 and a debt-to-equity ratio of 23.13. The firm has a market capitalization of $194.98 million, a price-to-earnings ratio of -2.94 and a beta of 1.88. The firm’s 50-day moving average is $25.64 and its two-hundred day moving average is $26.59. Ocwen Financial has a 12 month low of $21.15 and a 12 month high of $35.79.

Analyst Ratings Changes

Several research analysts have issued reports on OCN shares. B. Riley reiterated a “buy” rating and set a $50.00 target price on shares of Ocwen Financial in a report on Tuesday, March 26th. Keefe, Bruyette & Woods reduced their target price on Ocwen Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 9th.

Ocwen Financial Company Profile

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.