Ocwen Financial Corp reports results for the quarter ended in March - Earnings Summary

Onity

02/05/2024 14:32

* Ocwen Financial Corp  OCN.N  reported quarterly adjusted
earnings of $3.74​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of $-5.34.  The mean expectation of four analysts
for the quarter was for earnings of $1.19 per share. Wall Street
expected results to range from $1.00  to $1.42 per share.
    * Revenue fell 14.4% to $224.10 million from a year ago;
analysts
expected $270.37 million. 
    * Ocwen Financial Corp shares had fallen by 10.5% this
quarter and
lost 21.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.6%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Ocwen
Financial
Corp is $40.00 

This summary was machine generated from LSEG data May 2 at 01:31
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.19           3.74           Beat
 Dec. 31 2023      0.93           -6.00          Missed
 Sep. 30 2023      1.08           1.05           Missed
 Jun. 30 2023      0.45           1.95           Beat