B. Riley Comments on Ocwen Financial Co.’s Q3 2021 Earnings (NYSE:OCN)

Ocwen Financial Co. (NYSE:OCN) – B. Riley issued their Q3 2021 earnings per share estimates for Ocwen Financial in a report released on Thursday, September 9th. B. Riley analyst M. Howlett expects that the financial services provider will post earnings of $1.60 per share for the quarter. B. Riley currently has a “Buy” rating and a $50.00 price target on the stock. B. Riley also issued estimates for Ocwen Financial’s Q4 2021 earnings at $1.79 EPS, FY2021 earnings at $3.20 EPS, Q1 2022 earnings at $1.79 EPS, Q2 2022 earnings at $2.08 EPS, Q3 2022 earnings at $2.63 EPS, Q4 2022 earnings at $2.76 EPS and FY2022 earnings at $9.25 EPS.

Separately, Jefferies Financial Group began coverage on shares of Ocwen Financial in a research note on Wednesday, June 30th. They issued a “buy” rating and a $36.00 price target on the stock.

Shares of OCN stock opened at $27.59 on Monday. The company has a current ratio of 15.64, a quick ratio of 15.64 and a debt-to-equity ratio of 19.58. Ocwen Financial has a 1 year low of $18.38 and a 1 year high of $35.08. The firm’s fifty day moving average price is $27.41 and its two-hundred day moving average price is $28.92. The firm has a market capitalization of $253.52 million, a P/E ratio of -13.08 and a beta of 1.91.

Ocwen Financial (NYSE:OCN) last issued its quarterly earnings results on Wednesday, August 4th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Ocwen Financial had a negative net margin of 1.93% and a negative return on equity of 1.88%. The firm had revenue of $265.45 million for the quarter, compared to analyst estimates of $305.08 million.

Several institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in shares of Ocwen Financial during the 2nd quarter worth about $244,000. Oaktree Capital Management LP acquired a new position in shares of Ocwen Financial during the 2nd quarter worth about $18,491,000. Morgan Stanley increased its stake in shares of Ocwen Financial by 4,068.2% during the 2nd quarter. Morgan Stanley now owns 9,962 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 9,723 shares during the last quarter. Invesco Ltd. increased its stake in shares of Ocwen Financial by 44.8% during the 2nd quarter. Invesco Ltd. now owns 26,118 shares of the financial services provider’s stock worth $809,000 after purchasing an additional 8,083 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Ocwen Financial by 107.4% during the 2nd quarter. Bank of America Corp DE now owns 8,869 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 4,593 shares during the last quarter. Institutional investors own 53.00% of the company’s stock.

Ocwen Financial Company Profile

Ocwen Financial Corp. is a financial services holding company, which through its subsidiaries engages in the servicing and origination of mortgage loans. It operates through the following business segments: Servicing, Lending, and Corporate Items and Other. The Servicing segment engages in residential servicing business, which offers residential and commercial mortgage loan servicing, special servicing and asset management services.

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

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