Ocwen Financial Corp. (OCN) saw a big move last session, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for OCN as the stock is now down 21% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the financial services company has seen 2 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
OCN currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is postitive.
Some better-ranked stocks in the finance sector include Sierra Bancorp (BSRR), AmTrust Financial Services, Inc. (AFSI) and Home Loan Servicing Solutions, Ltd. (HLSS). While Sierra Bancorp and AmTrust carry a Zacks Rank #1 (Strong Buy), Home Loan Servicing holds a Zacks Rank #2 (Buy).
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OCWEN FINANCIAL CORP (OCN): Free Stock Analysis Report
SIERRA BANCORP (BSRR): Free Stock Analysis Report
AMTRUST FINANCIAL SERVICES INC (AFSI): Free Stock Analysis Report
HOME LOAN SERVICING SOLUTIONS LT (HLSS): Free Stock Analysis Report
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