Ocwen Fincl (NYSE:OCN) Rating Reaffirmed
Recently, In an analyst note issued to investors and clients on Thursday, 3 December, Ocwen Fincl (NYSE:OCN) shares have had their Neutral Rating reaffirmed by professional analysts at Compass Point, who currently has a $8 price target on firm. This target by Compass Point may mean the possibile upside of 19.23% from the previous close.
From a total of 6 analysts covering Ocwen Financial (NYSE:OCN) stock, 1 rate it a ”Buy”, 1 a “Sell”, and 5 a ”Hold”. This means that 14% of the ratings are positive. The highest target price is $12 while the lowest target price is $6. The mean of all analyst targets is $9 with a 17.44% above today’s ($6.71) stock price. Ocwen Financial was the topic of 11 analyst reports since July 31, 2015 according to the firm StockzIntelligence Inc. Vetr downgraded shares on September 8 to “Hold” rating. Oppenheimer maintained OCN stock in a recent report from August 7 with “Market Perform” rating. Finally, Bank of America downgraded the stock to “Underperform” rating in a report issued on an August 3.
Approximately 1.42M shares of stock traded hands. Ocwen Financial Corp (NYSE:OCN) has declined 23.79% since April 30, 2015 and is downtrending. It has underperformed by 23.50% the S&P500.
Ocwen Financial Corporation is a financial services holding company. The company has a market cap of $816.14 million. The Company, through its subsidiaries operates as a mortgage company. It currently has negative earnings. The Firm operates in divisions, including Servicing and Lending.
According to Zacks Investment Research, “Ocwen Financial Corporation is a financial services holding company engaged in asset acquisition and resolution, residential finance, commercial finance, investment management and hotel operations. The Company primarily specializes in the aquisition and resolution of non-performing or underperforming loans.” Get a free copy of the Zacks research report on Ocwen Financial Corp (OCN).