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

Reuters05-02

* Ocwen Financial Corp 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

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