Analysts at Piper Jaffray set a $20.00 price target on shares of Ocwen Financial Corp (NYSE:OCN) stock in a research report issued to clients and investors on Monday. The firm currently has a a “buy” rating on the stock. Piper Jaffray’s target price suggests a potential upside of 189.44% from the company’s current price.
OCN has been the subject of a number of other recent research reports. Analysts at Barclays lowered their price target on shares of Ocwen Financial Corp from $20.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. Analysts at Keefe, Bruyette & Woods set a $14.00 price target on shares of Ocwen Financial Corp and gave the company a “market perform” rating in a research note on Monday, January 5th. Analysts at Citigroup Inc. reiterated a “hold” rating and set a $15.00 price target (down previously from $23.00) on shares of Ocwen Financial Corp in a research note on Monday, December 29th. Finally, analysts at Oppenheimer reiterated a “hold” rating on shares of Ocwen Financial Corp in a research note on Tuesday, December 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $23.41.
Shares of Ocwen Financial Corp (NYSE:OCN) traded up 8.82% during mid-day trading on Monday, hitting $6.91. 43,430,968 shares of the company’s stock traded hands. Ocwen Financial Corp has a 52-week low of $5.66 and a 52-week high of $47.44. The stock has a 50-day moving average of $15.17 and a 200-day moving average of $23.92. The company has a market cap of $869.4 million and a price-to-earnings ratio of 4.76
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Right on queue Matt as soon as you HLF will go up in price, you & your band of thieves post a hit piece on HLF. Priceless!!! More like worthless. Matt you are spineless....
JPMorgan (JPM) the Buyer of Ocwen's (OCN) $45B Fannie MSR Portfolio - IMF Sources
Though it beat FQ2 estimates, Micron (NASDAQ:MU) has guided in its earnings slides (.pdf) for FQ3 revenue of $3.8B-$4.05B, below a $4.29B consensus. At the same time, a light outlook was expected by many.
Lifting FQ2 sales: Trade NAND sales rose 12% Q/Q, in spite of guidance for production to be flat to down by a low-single digit %. DRAM sales fell 9%; production guidance was for a high-single to low-double digit drop.
DRAM and trade NAND ASPs respectively fell 6% and 9% Q/Q, below guidance of flat to down low-single digits. However, DRAM cost/bit fell 4% (better than guidance for a flat cost/bit), and trade NAND cost/bit fell 3% (better than guidance for a mid-single digit increase).
FQ3 DRAM guidance: High-single digit production growth (20nm transition), high-single digit ASP decline (PC price pressure), low single-digit cost/bit decline. FQ3 trade NAND guidance: Low-single digit production decline, mid-single digit ASP growth, mid-single digit cost/bit growth.
FQ2 gross margin was 34%, down from FQ1's 36% and flat Y/Y. SG&A spend rose 6% Y/Y to $187M; R&D spend rose 10% to $379M. DRAM was 65% of revenue, NAND 32% (trade NAND 29%), and other products (e.g. NOR flash) 3%.
Free cash flow was (op. cash flow - capex) was $399M. The FY15 capex budget remains at $3.6B-$4B. Micron ended FQ2 with $6.35B in cash/marketable investments, and $6.7B in debt.
Piper Jaffray analyst Michael Grondahl reiterated an Overweight rating on Ocwen Financial Corp (NYSE: OCN) while trimming his price target to $20.00 (from $25.00) after the company ached a $2.5M settlement with California over OCN's failure to provide information to its California regulators in a timely manner.
"We believe this settlement largely removes the risk of OCN's servicing license being suspended in California," Grondahl said. "We note that California is OCN's largest state exposure by UPB at $95B and 378.1K loans. Additionally, OCN was served a notice of default on its servicing for 119 of ~4200 trusts serviced by OCN. These 119 trusts currently represent only ~$10B in servicing (originally ~$82B). We believe it is incorrect to assume that the entire servicing book will declare an event of default and pull servicing as this would greatly increase foreclosure timelines and hurt both borrowers/bondholders
Pivotal Research earlier reiterated a Buy rating on Herbalife (NYSE: HLF) with a price target of $75
You get the honor of turning out the lights. LOl...
Really? I lost money shorting YY? Hmmm sounds like u need to go back & learn basic math. Shorted YY at $66 cover at $51.20. Now how much did I lose? Lol... Dumb bag holder...
Rotflmao @ U!!! Okay brain dead humor me, what is my other aliases? How much did u lose today?
U.S. airlines expect passenger traffic to increase 2% during March and April.
The group of major carriers is forecast to show a 3% rise in capacity over the period.
The industry's net profit margin is expected to improve compared to a year ago due to lower fuel expenses.
The average price on aviation jet fuel in North America is currently down 36.6% from a year ago, but 25.2% higher than the level from a month ago.
Airline fares fell 3% in January and are expected to have shown a smaller decline in February. March fares are seen as holding steady due to strong business demand