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Shares of Ocwen Financial Corp (NYSE:OCN) hit a new 52-week low during mid-day trading on Tuesday ,Analyst RN reports. The company traded as low as $12.63 and last traded at $13.23, with a volume of 5,908,397 shares. The stock had previously closed at $13.97.
A number of analysts have recently weighed in on OCN shares. Analysts at Keefe, Bruyette & Woods set a $14.00 price target on shares of Ocwen Financial Corp in a research note on Monday. They now have a “hold” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Ocwen Financial Corp in a research note on Monday, December 29th. They now have a $15.00 price target on the stock, down previously from $23.00. Finally, analysts at Oppenheimer reiterated a “hold” rating on shares of Ocwen Financial Corp in a research note on Tuesday, December 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Ocwen Financial Corp presently has an average rating of “Hold” and an average target price of $24.75.
The stock has a 50-day moving average of $20. and a 200-day moving average of $26.33. The company has a market cap of $1.686 billion and a price-to-earnings ratio of 10.48. Ocwen Financial Corp also was the target of some unusual options trading on Monday. Investors purchased 9,011 put options on the stock. This is an increase of approximately 315% compared to the average volume of 2,169 put options.
Ocwen Financial Corp (NYSE:OCN) last released its earnings data on Thursday, October 30th. The company reported $0.58 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.59 by $0.01. The company had revenue of $485.30 million for the quarter, compared to the consensus estimate of $542.76 million. During the same quarter last year, the company posted $0.44 earnings per share. Ocwen Financial Corp’s revenue was down 3.3% compared to the same quarter last year. Analysts expect that Ocwen Financial Corp will post $0.86 EPS for the current fiscal year.
Ocwen Financial Corporation is a financial services holding company. The Company is engaged in the servicing and origination of mortgage loans.
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