Ocwen Financial (NYSE:OCN) issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05, MarketWatch Earnings reports. Ocwen Financial had a negative return on equity of 22.25% and a negative net margin of 10.65%. The business had revenue of $303.88 million for the quarter, compared to the consensus estimate of $284.26 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. Ocwen Financial’s revenue for the quarter was up 16.8% compared to the same quarter last year.
Shares of NYSE:OCN traded down $0.01 on Thursday, reaching $1.81. The company had a trading volume of 1,961 shares, compared to its average volume of 670,586. Ocwen Financial has a twelve month low of $1.20 and a twelve month high of $4.70. The company has a quick ratio of 10.01, a current ratio of 10.01 and a debt-to-equity ratio of 14.75.
Separately, ValuEngine downgraded Ocwen Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st.
Ocwen Financial Company Profile
Ocwen Financial Corporation, a financial services holding company, originates and services loans in the United States, the United States Virgin Islands, India, and Philippines. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate.
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