Ocwen Financial Co. (NYSE:OCN) Forecasted to Earn Q1 2024 Earnings of $1.42 Per Share

Ocwen Financial Co. (NYSE:OCN) – Investment analysts at B. Riley issued their Q1 2024 EPS estimates for Ocwen Financial in a report issued on Tuesday, March 26th. B. Riley analyst M. Howlett forecasts that the financial services provider will post earnings per share of $1.42 for the quarter. B. Riley currently has a “Buy” rating and a $50.00 target price on the stock. The consensus estimate for Ocwen Financial’s current full-year earnings is $5.15 per share. B. Riley also issued estimates for Ocwen Financial’s Q2 2024 earnings at $1.44 EPS, Q3 2024 earnings at $1.53 EPS, Q4 2024 earnings at $1.61 EPS, FY2024 earnings at $6.00 EPS, Q1 2025 earnings at $1.76 EPS, Q2 2025 earnings at $1.91 EPS, Q3 2025 earnings at $2.08 EPS, Q4 2025 earnings at $2.26 EPS and FY2025 earnings at $8.00 EPS.

Separately, StockNews.com upgraded shares of Ocwen Financial from a “sell” rating to a “hold” rating in a research note on Friday, December 15th.

Ocwen Financial Price Performance

NYSE OCN opened at $27.01 on Thursday. The company has a debt-to-equity ratio of 23.13, a quick ratio of 18.14 and a current ratio of 18.14. The firm’s 50 day moving average price is $27.29 and its 200-day moving average price is $26.67. Ocwen Financial has a 52-week low of $21.15 and a 52-week high of $35.79. The company has a market cap of $207.44 million, a PE ratio of -3.16 and a beta of 1.87.

Ocwen Financial (NYSE:OCN) last issued its earnings results on Tuesday, February 27th. The financial services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.35. The business had revenue of $277.30 million for the quarter, compared to analyst estimates of $260.23 million. Ocwen Financial had a negative net margin of 5.97% and a positive return on equity of 10.21%.

Institutional Investors Weigh In On Ocwen Financial

Several institutional investors have recently bought and sold shares of OCN. Captrust Financial Advisors acquired a new stake in Ocwen Financial in the first quarter valued at approximately $31,000. Tower Research Capital LLC TRC raised its holdings in shares of Ocwen Financial by 107.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,045 shares of the financial services provider’s stock worth $32,000 after buying an additional 541 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of Ocwen Financial by 82.7% in the second quarter. Quantbot Technologies LP now owns 1,485 shares of the financial services provider’s stock worth $40,000 after buying an additional 672 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Ocwen Financial by 3,196.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,648 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,598 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Ocwen Financial in the fourth quarter worth $56,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

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.