Somewhat Positive News Coverage Likely to Impact Ocwen Financial Corp (OCN) Share Price

Press coverage about Ocwen Financial Corp (NYSE:OCN) has trended somewhat positive this week, according to Alpha One. The research firm, a service of Accern, identifies negative and positive news coverage by analyzing more than twenty million news and blog sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Ocwen Financial Corp earned a news sentiment score of 0.12 on Alpha One’s scale. Alpha One also gave news stories about the financial services provider an impact score of 76 out of 100, indicating that recent news coverage is likely to have an effect on the company’s share price in the immediate future.

These are some of the news stories that may have effected Alpha One Sentiment Analysis’s scoring:

A number of research analysts have recently commented on the company. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Ocwen Financial Corp in a report on Saturday, February 25th. Compass Point raised Ocwen Financial Corp from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $5.00 to $3.50 in a report on Friday, April 21st. Keefe, Bruyette & Woods restated a “hold” rating and set a $5.00 target price on shares of Ocwen Financial Corp in a research note on Monday, April 10th. Piper Jaffray Companies upgraded Ocwen Financial Corp from an “underweight” rating to a “neutral” rating and increased their target price for the company from $2.00 to $3.50 in a research note on Monday, May 1st. Finally, Zacks Investment Research upgraded Ocwen Financial Corp from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Thursday, May 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Ocwen Financial Corp has an average rating of “Hold” and a consensus price target of $3.75.

Ocwen Financial Corp (NYSE:OCN) traded up 2.38% during trading on Friday, hitting $2.58. The company had a trading volume of 1,359,021 shares. The company’s market capitalization is $321.42 million. The stock has a 50-day moving average of $3.61 and a 200 day moving average of $4.72. Ocwen Financial Corp has a one year low of $1.29 and a one year high of $6.15.

Ocwen Financial Corp (NYSE:OCN) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.04. Ocwen Financial Corp had a negative return on equity of 25.54% and a negative net margin of 29.01%. The company had revenue of $321.90 million for the quarter, compared to analysts’ expectations of $302.90 million. During the same quarter in the previous year, the business earned ($0.90) EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts forecast that Ocwen Financial Corp will post ($1.11) EPS for the current fiscal year.

In related news, major shareholder John Devaney purchased 3,040,209 shares of the firm’s stock in a transaction dated Thursday, April 20th. The stock was bought at an average price of $2.70 per share, for a total transaction of $8,208,564.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.17% of the company’s stock.

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About Ocwen Financial Corp

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.

12 Month Chart for NYSE:OCN

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