Ocwen Financial Corp Given Buy Rating at Jefferies Group (OCN)

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Ocwen Financial Corp (NYSE:OCN)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group in a report released on Friday, Analyst Ratings.Net reports.

Shares of Ocwen Financial Corp (NYSE:OCN) remained flat at $35.08 during during mid-day trading trading on Friday. The stock had a trading volume of 1,060,492 shares. Ocwen Financial Corp has a one year low of $33.54 and a one year high of $60.18. The stock has a 50-day moving average of $38.69 and a 200-day moving average of $47.13. The company has a market cap of $4.742 billion and a price-to-earnings ratio of 17.37.

Ocwen Financial Corp (NYSE:OCN) last released its earnings data on Thursday, May 1st. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.98 by $0.44. The company had revenue of $551.30 million for the quarter, compared to the consensus estimate of $570.58 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 46.7% on a year-over-year basis. Analysts expect that Ocwen Financial Corp will post $4.73 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on OCN. Analysts at Oppenheimer cut their price target on shares of Ocwen Financial Corp from $56.00 to $48.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Ocwen Financial Corp in a research note on Tuesday, April 15th. They now have a $42.00 price target on the stock. Finally, analysts at Bank of America reiterated a “buy” rating on shares of Ocwen Financial Corp in a research note on Tuesday, March 4th. They now have a $57.00 price target on the stock, down previously from $68.00. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Ocwen Financial Corp has an average rating of “Buy” and a consensus price target of $51.00.

Ocwen Financial Corporation is a financial services holding company. The Company is engaged in the servicing and origination of mortgage loans.

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