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Surging Earnings Estimates Signal Good News for Ocwen Financial (OCN)

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Ocwen Financial Corp. (OCN - Free Report) is a financial services holding company engaged in the acquisition and resolution of non-performing or underperforming loans that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on OCN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Ocwen could be a solid choice for investors.

Current Quarter Estimates for OCN

In the past 30 days, 1 estimate has gone higher for Ocwen with 1 estimate moving down in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 35 cents a share 30 days ago, to a loss of 27 cents today, a move of 22.9%.

Current Year Estimates for OCN

Meanwhile, Ocwen’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $2.38 per share 30 days ago to a loss of $1.70 per share today, a move of 28.6%.

OCWEN FINL CORP Price and Consensus


OCWEN FINL CORP Price and Consensus | OCWEN FINL CORP Quote

Bottom Line

The stock has also started to move higher lately, adding 31.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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