Ocwen Financial Co. Expected to Post Q1 2022 Earnings of $0.80 Per Share (NYSE:OCN)

Ocwen Financial Co. (NYSE:OCNGet Rating) – Equities research analysts at Jefferies Financial Group issued their Q1 2022 EPS estimates for Ocwen Financial in a report released on Tuesday, April 19th. Jefferies Financial Group analyst K. Joseph expects that the financial services provider will post earnings of $0.80 per share for the quarter. Jefferies Financial Group also issued estimates for Ocwen Financial’s Q2 2022 earnings at $0.84 EPS, Q3 2022 earnings at $1.55 EPS, Q4 2022 earnings at $1.88 EPS, FY2022 earnings at $5.08 EPS, Q1 2023 earnings at $0.87 EPS, Q2 2023 earnings at $0.96 EPS, Q3 2023 earnings at $1.67 EPS, Q4 2023 earnings at $2.11 EPS and FY2023 earnings at $5.62 EPS.

A number of other research analysts have also recently weighed in on the company. BTIG Research began coverage on Ocwen Financial in a research report on Wednesday. They issued a “neutral” rating for the company. Zacks Investment Research lowered Ocwen Financial from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 19th. B. Riley dropped their target price on Ocwen Financial from $56.00 to $50.00 in a report on Wednesday, March 16th. Finally, StockNews.com assumed coverage on Ocwen Financial in a report on Thursday, March 31st. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.67.

NYSE:OCN opened at $18.83 on Thursday. The stock has a fifty day moving average price of $25.69 and a two-hundred day moving average price of $32.00. The stock has a market capitalization of $173.80 million, a price-to-earnings ratio of 9.91 and a beta of 2.00. The company has a debt-to-equity ratio of 17.42, a quick ratio of 16.75 and a current ratio of 16.75. Ocwen Financial has a 1 year low of $18.65 and a 1 year high of $41.92.

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 Thomson Reuters’ consensus estimate of $2.46 by ($2.66). The firm had revenue of $293.96 million during the quarter, compared to analyst estimates of $52.17 million. Ocwen Financial had a net margin of 1.72% and a return on equity of 6.18%.

Institutional investors and hedge funds have recently modified their holdings of the company. Long Focus Capital Management LLC acquired a new position in Ocwen Financial during the 4th quarter valued at approximately $16,095,000. Oaktree Capital Management LP boosted its position in Ocwen Financial by 26.8% during the 4th quarter. Oaktree Capital Management LP now owns 756,870 shares of the financial services provider’s stock valued at $30,252,000 after purchasing an additional 160,000 shares during the period. Monaco Asset Management SAM acquired a new position in Ocwen Financial during the 4th quarter valued at approximately $5,678,000. Cooper Creek Partners Management LLC boosted its position in Ocwen Financial by 77.6% during the 4th quarter. Cooper Creek Partners Management LLC now owns 122,147 shares of the financial services provider’s stock valued at $4,882,000 after purchasing an additional 53,364 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in Ocwen Financial during the 4th quarter valued at approximately $1,951,000. Institutional investors own 53.66% 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.

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

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