Ocwen Financial (OCN) Announces Earnings Results, Beats Expectations By $0.05 EPS

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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.

Several large investors have recently made changes to their positions in the business. ExodusPoint Capital Management LP acquired a new position in shares of Ocwen Financial during the 1st quarter worth about $37,000. Public Employees Retirement System of Ohio lifted its position in shares of Ocwen Financial by 26.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 28,872 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 6,099 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Ocwen Financial during the 1st quarter worth about $39,000. BNP Paribas Arbitrage SA lifted its position in shares of Ocwen Financial by 89.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 30,143 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 14,232 shares during the last quarter. Finally, Sigma Planning Corp acquired a new position in shares of Ocwen Financial during the 1st quarter worth about $65,000. 63.97% of the stock is owned by institutional investors.

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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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Earnings History for Ocwen Financial (NYSE:OCN)

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