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Ocwen Q4 Earnings Preview
Posted February 21, 2012
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Ocwen (NYSE:OCN) provides residential and commericial mortgage loan servicing, special servicing, and assent management services through its subsidiaries. The company will report its fourth quarter earnings on Thursday, February 23, 2012.
Expectations: The Wall Street consensus is that the company will report 30 cents per share, up 233.3% from a year ago when Ocwen reported earnings of 9 cents per share. The consensus estimate is has risen from three months ago when it was 29 cents. It hasn't been adjusted since. For the fiscal year, analysts are projecting earnings of $1.06 per share. The company is projected to top last year's reported revenue of $113.3 million by 36.4% to come in $154.5 million for the quarter. The company is expected to report revenue of $493.5 million for the fiscal year.
Performance: The company has seen double-digit year-over-year revenue growth for the past four quarters. Over that time span, revenue has increased by an average of 44.2%, with the largest growth in the fourth quarter of the last fiscal year when it rose 53.9% year-over-year. Over the past quarter, the stock price has risen to $15.69 from $12.96 on November 22, 2011. The price is within 3 cents of its 52-week high of $15.72, which was set on February 14, 2012. Ocwen's best recent streak was when its price gained $1.22 per share between December 7, 2011 and December 27, 2011.
Ratings: All four analysts rate the stock as a buy. This rating has been unchanged for the past three months.
Earnings estimates provided by Zacks.
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