Ocwen Financial Corp Rating Reiterated by Compass Point (OCN)

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Ocwen Financial Corp (NYSE:OCN)‘s stock had its “buy” rating reiterated by investment analysts at Compass Point in a note issued to investors on Wednesday, Stock Ratings News reports. They currently have a $43.00 price target on the stock, down from their previous price target of $54.00. Compass Point’s target price would suggest a potential upside of 32.10% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Ocwen Financial Corp in a research note on Friday, May 2nd. They now have a $42.00 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Ocwen Financial Corp from $52.00 to $42.00 in a research note on Friday, May 2nd. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer cut their price target on shares of Ocwen Financial Corp from $56.00 to $48.00 in a research note on Friday, May 2nd. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $47.75.

Shares of Ocwen Financial Corp (NYSE:OCN) traded down 0.65% during mid-day trading on Wednesday, hitting $32.34. The stock had a trading volume of 189,196 shares. Ocwen Financial Corp has a 52 week low of $31.31 and a 52 week high of $60.18. The stock’s 50-day moving average is $37.65 and its 200-day moving average is $46.30. The company has a market cap of $4.362 billion and a price-to-earnings ratio of 14.49.

Ocwen Financial Corp (NYSE:OCN) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.54 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.98 by $0.44. The company had revenue of $551.30 million for the quarter, compared to the consensus estimate of $570.58 million. During the same quarter last year, the company posted $0.31 earnings per share. Ocwen Financial Corp’s revenue was up 46.7% compared to the same quarter last year. Analysts expect that Ocwen Financial Corp will post $3.63 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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