Ocwen Financial Corp (OCN)

OCN (NYSE:Real Estate) EQUITY
$7.99
neg -0.24
-2.90%
Today's Range: 7.95 - 8.25 | OCN Avg Daily Volume: 8,803,000
Last Update: 03/27/15 - 11:47 AM EDT
Volume: 1,301,468
YTD Performance: -45.50%
Open: $8.08
Previous Close: $8.23
52 Week Range: $5.66 - $40.44
Oustanding Shares: 125,814,811
Market Cap: 1,053,069,968
6-Month Chart
TheStreet Ratings Grade for OCN
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
TheStreet Ratings is the source for accurate ratings that you can rely upon to make sound, informed financial decisions. Click here to find out about our methodology.
Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy 1 1 1 1
Moderate Buy 0 0 0 0
Hold 4 6 6 6
Moderate Sell 0 0 0 0
Strong Sell 1 0 0 0
Mean Rec. 3.00 2.71 2.71 2.71
Latest Dividend: 0.00
Latest Dividend Yield: 0.00%
Dividend Ex-Date: 12/31/69
Price Earnings Ratio: 6.34
Price Earnings Comparisons:
OCN Sector Avg. S&P 500
6.34 7.10 27.33
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
-42.53% -78.34% -48.82%
GROWTH 12 Mo 3 Yr CAGR
Revenue 141.20 4.67 0.77
Net Income 62.60 7.75 1.05
EPS 54.10 4.47 0.75
Earnings for OCN:
EBITDA 0.75B
Revenue 2.04B
Average Earnings Estimates
Qtr (12/14) Qtr (03/15) FY (12/14) FY (12/15)
Average Estimate $0.43 $0.36 $0.92 $1.96
Number of Analysts 3 1 1 4
High Estimate $0.45 $0.36 $0.92 $2.46
Low Estimate $0.40 $0.36 $0.92 $1.66
Prior Year $0.94 $0.69 $3.16 $0.92
Growth Rate (Year over Year) -54.61% -47.83% -70.89% 112.50%
Chart Benchmark Timeframe
Average Frequency Indicator Chart
Scale Symbol Comparison Bollinger Bands

From the Street of Dreams Real Money Pro($)

Higher operating expenses associated with the Home Loan Servicing Solutions (HLSS) relationship. Operational changes required by regulators. Risk of private label trusts being pulled or transferred by New Residential Investment (NRZ), which has made an offer to acquire HLSS. Continued litigation risk (revelation from law firm Gibbs & Bruns that the company's servicing practices caused billions of dollars of damage).

Late Day Observations Real Money Pro($)

Caterpillar (CAT) looks like it has a rendezvous with $80 ahead of it. CAT remains on my Best Ideas List (short). For now, the market bends but doesn't break. I will stick to my notion of a "topping process." I am a $90.75 buyer of Deere (DE). I am working on a thesis why the U.S. auto manufacturers are destined for a period of underperformance and a protracted period of market share loss from foreign exchange weak exporters and from alternative manufacturers (e.g., Tesla (TSLA)) that are improving the "driving experience." The price of crude oil, as I feared, looks like it is destined to make a double bottom and to retest recent lows (-$2.37/barrel on the day). I missed shorting some more Apple (AAPL) as the shares never traded at my level of $131. I mentioned Ocwen (OCN) traded higher on word of a large naked short put trade. What happens is that the market maker on the other side is effectively short (long puts) and is forced to buy stock on a delta-adjusted basis to "even out." New low on TLT on the day and down by about $0.50 from short sale (hedge against muni funds). New daily low on IBM (IBM). Bank of America (BAC) breaks $16, avoid. All five of my regional bank holdings are higher today. Ali Blah Blah has missed out of the Nasdaq rip. Looks lower. (Remember, BABA is on my Surprise List.) I have raised my net short exposure today -- up to 15% net short. Is Warren Buffett becoming fearful while most others have become greedy? Stay tuned to Becky's interview with The Oracle on CNBC's "Squawk Box" on Monday.

Some Midday Observations Real Money Pro($)

Like Bruce Willis, Apple's shares don't die hard or quickly. (The shares are trading +$1.63 after being lower earlier in the day.) The media event invitation for early March (watch) should be no surprise. I plan to add to my short at about $131/share. I suspect the net neutrality decision has been already discounted in the shares of cable companies, Netflix (NFLX), Facebook (FB), et al. The yield on the 10-year U.S. note is now back over 2.00% (up by three basis points). I shorted iShares 20+ Treasury (TLT) at $129.70 as an interest rate hedge to my closed-end municipal bond funds. Maybe the Nasdaq "has" to go to 5,000, despite being +23 handles in Nazzie futures, I continue to add to QQQ short. The redirection out of Hewlett and into Internet plays continues for the second day in a row. Again Jimmy Cramer wrote a great piece last night on this. Bank of America (BAC) is down on some concerns regarding CCAR risks in the company's 10-K. I would stay away from this name. The bank's latest quarter was god awful and it is so poorly managed. I prefer Citigroup (C) and my five smaller regional banks. RESI trades well and is at a day's high now. HLSS trades like there will be a competing and higher bid for the company. To complete the complex, OCN trades well after a multi-thousand sale of out-of-the-money puts. I expect the price of oil to be $47/barrel before $55/barrel. In reading the comments, IBM's investor day has been uninspiring. IBM remains a show-me stock. Anyone can make projections (just ask CAT's management).The presentation was long on "strategic imperatives," ecosystems, core competence, stewardship initiatives and a bunch of management consultant gobbledegook. "If you want to be short innovation, buy IBM's stock." (Hat tip Stan Druckenmiller) I am getting psyched for Warren's letter to Berkshire shareholders on Saturday morning. I am participating in a special project which analyzes The Oracle's shareholder letter with the Wall Street Journal.
"Capstone believes these actions will add significant value for RESI shareholders. Capstone currently values RESI at $28.10 per share. If RESI's board acts to terminate AAMC for cause and hires a new asset manager at market rates, Capstone estimates the stock will be worth $34.10 per share."

Some Thoughts on Ocwen Real Money Pro($)

Several weeks ago I summarized my view of each component of the Ocwen (OCN) complex and concluded that OCN, Altisource Portfolio Solutions (ASPS) and Altisource Asset Management (AAMC) might still be avoided, while Home Loan Servicing Solutions (HLSS) and Altisource Residential (RESI) were new buys.

Sold Rest of My HLSS Real Money Pro($)

I have sold the balance of my Home Loan Servicing Solutions (HLSS) above $17.10 for a nice and quick gain.

HLSS Rises on Mangrove Move Real Money Pro($)

In my recent Ocwen (OCN) complex write-up, I opined that Home Loan Servicing Solutions (HLSS) could be acquired.

Today's Trades Real Money Pro($)

Early this morning, I covered my SPY and QQQ shorts.

Ocwen Complex Moves Real Money Pro($)

As promised, I sold my tag ends in Altisource Portfolio (ASPS), Altisource Asset (AAMC) and Ocwen (OCN).

Back to Market Neutral Real Money Pro($)

I have taken down my index shorts in premarket trading this morning and I have moved to back to market neutral from 8% net short.

Columnist Conversations

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