Onity Group (ONIT) Set to Announce Quarterly Earnings on Tuesday

Onity Group (NYSE:ONIT) is scheduled to be releasing its earnings data before the market opens on Tuesday, November 5th. Analysts expect Onity Group to post earnings of $1.99 per share for the quarter.

Onity Group (NYSE:ONIT) last posted its earnings results on Thursday, August 1st. The company reported $4.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $2.70. The company had revenue of $246.40 million during the quarter, compared to the consensus estimate of $273.64 million. Onity Group had a return on equity of 15.54% and a net margin of 0.16%. During the same quarter last year, the firm earned $1.04 earnings per share. On average, analysts expect Onity Group to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Onity Group Stock Up 0.2 %

Shares of Onity Group stock traded up $0.05 during trading on Wednesday, reaching $30.25. The company’s stock had a trading volume of 43,937 shares, compared to its average volume of 17,643. The company has a debt-to-equity ratio of 21.15, a quick ratio of 24.04 and a current ratio of 24.04. The firm has a market capitalization of $237.31 million, a price-to-earnings ratio of 57.08 and a beta of 1.84. Onity Group has a 52 week low of $21.70 and a 52 week high of $36.91. The firm’s 50-day moving average price is $29.59.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ONIT. Keefe, Bruyette & Woods lifted their price target on shares of Onity Group from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. B. Riley upgraded Onity Group to a “strong-buy” rating in a research note on Tuesday, August 13th.

Onity Group Company Profile

Onity Group Inc, 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.