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OCN

Ocwen

$3.69

0.08 (2.22%)

13:30
10/13/17
10/13
13:30
10/13/17
13:30

Ocwen Financial 2019 options with notable interest Friday

Ocwen Financial 2019 options with notable interest Friday. The stock up 8c to $3.69 and Jan19 4 calls trade in small lots for 60 and 65c per contract. 12.3K trade at that strike against 7K open interest. Separately, 5K Jan 2019 3.5 puts trade at 52.5c when bid-ask was 50c to 65c and appears to be a closing sale. Total volume is 3X daily average at 13K puts and 14K calls. 69% of the flow is in the Jan 2019 term. Earnings expected again towards month's end.

OCN Ocwen
$3.69

0.08 (2.22%)

06/20/17
WEDB
06/20/17
DOWNGRADE
WEDB
Neutral
New Residential downgraded on downward rates, regulatory worries at Wedbush
As noted earlier, before the market opened, Wedbush downgraded New Residential (NRZ) to Neutral from Outperform Analyst Jason Weaver downgraded the stock based on falling interest rates and his belief that the CFPB and Florida's attorney general could seek to sue New Residential as part of their lawsuit against Ocwen (OCN). The analyst does not expect New Residential to be hurt by any such lawsuits, but he says that they would create headline risk for the company and could delay the closing of its deal with Ocwen. Target to $16.50 from $17.
05/16/17
PIPR
05/16/17
NO CHANGE
Target $18
PIPR
Overweight
New Residential target raised to $18 after CEO meeting at Piper Jaffray
Piper Jaffray analyst Kevin Barker raised his price target for New Residential Investment (NRZ) after hosting meetings with the company's CEO Michael Nierenberg. The analyst has increased confidence that the Ocwen (OCN) mortgage servicing rights deal will be "meaningfully accretive" to New Residential and provide support for a higher dividend in the future. Barker reiterates an Overweight rating on the shares.
05/15/17
COMP
05/15/17
NO CHANGE
Target $7
COMP
Sell
Altisource price target cut to $7 from $14 at Compass Point
Compass Point analyst Fred Small said Altisource's (ASPS) most profitable unit, Hubzuwhich derives 85% of profits from Ocwen (OCN), and represents over 90% of Altisource's pre-tax income, is "running out of steam" as Ocwen's portfolio declines. The analyst staid there is nothing to replace the high margin business and the recently announced sub servicing deal between Ocwen and New Residential (NRZ) increases risk on Ocwen's-sourced REO sales. The analyst said allegations about Ocwen's improper servicing suggest this is the source of the problems with Altisource's REALServicing platform. Small lowered his FY17 earnings estimate to $1.21 from $1.60 and FY18 to 65c from $1.77, cut his price target to $7 from $14, and reiterates a Sell rating on shares.
05/02/17
05/02/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AMD (AMD) downgraded to Underperform from Neutral at Macquarie with analyst Srini Pajjuri telling investors PC progress was disappointing versus high expectations and margin expansion will be difficult. 2. CNA Financial (CNA) downgraded to Hold from Buy at Deutsche Bank with analyst Joshua Shanker citing valuation with the stock up 56% over the past 12 months. The analyst raised his price target for the shares to $46 from $45 following CNA's first quarter results. 3. Arthur J. Gallagher (AJG) downgraded to Market Perform on valuation at Raymond James with analyst Gregory Peters citing valuation. 4. Ocwen (OCN) downgraded to Neutral on valuation at Compass Point with analyst Fred Small citing the over 40% jump in shares following the announcement of a strategic deal with New Residential (NRZ) on Monday. The analyst maintained a $3.50 price target on Ocwen shares and recommends moving to the sidelines until viability into long-term earnings power emerges. 5. Cerner (CERN) downgraded to Neutral from Buy at Hilliard Lyons with analyst Stephen Turner citing price appreciation and raised its price target to $68. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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VRSK

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ANW

Aegean Marine

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ANW

Aegean Marine

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Aegean Marine to acquire H.E.C. Europe for approximately $367M »

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TAHO

Tahoe Resources

$3.98

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PCH

Potlatch

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18:22
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Potlatch, Deltic Timber completer merger, change name to PotlatchDeltic »

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NGD

New Gold

$2.58

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NGD

New Gold

$2.58

-0.05 (-1.90%)

17:57
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Earnings
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  • 21

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PSA

Public Storage

$186.31

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Earnings
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HAIN

Hain Celestial

$34.68

-0.8 (-2.25%)

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Breaking Hot Stocks news story on Hain Celestial »

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ESNT

Essent Group

$46.84

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DHCP

Ditech

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SIEN

Sientra

$11.21

0.08 (0.72%)

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Syndicate
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ENLK

EnLink Midstream Partners

$16.36

0.03 (0.18%)

17:30
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ENLC

EnLink Midstream

$16.90

0.15 (0.90%)

17:28
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Earnings
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HAIN

Hain Celestial

$34.68

-0.8 (-2.25%)

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Hain Celestial will look at divestitures and small acquisitions »

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PGH

Pengrowth Energy

$0.73

0.0072 (0.99%)

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DVN

Devon Energy

$34.65

0.54 (1.58%)

17:15
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Devon Energy sees accelerating growth in Delaware Basin in early FY18 »

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FTK

Flotek

$5.59

0.06 (1.09%)

17:15
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Earnings
Flotek reports Q4 EPS (15c), two estimate consensus 3c »

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RCII

Rent-A-Center

$8.93

-0.62 (-6.49%)

17:14
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Hot Stocks
Rent-A-Center sees FY18 free cash flow if at least $130M »

As the Company remains in…

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  • 21

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DVN

Devon Energy

$34.65

0.53 (1.55%)

17:13
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Breaking Hot Stocks news story on Devon Energy »

Devon Energy Three-year…

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RCII

Rent-A-Center

$8.93

-0.62 (-6.49%)

17:12
02/20/18
02/20
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Earnings
Rent-A-Center reports Q4 EPS (41c) ex-items, consensus (7c) »

Reports Q4 revenue…

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  • 21

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DVN

Devon Energy

$34.65

0.54 (1.58%)

17:12
02/20/18
02/20
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Earnings
Devon Energy reports Q4 adjusted EPS 38c, consensus 63c »

Reports Q4 revenue…

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GSS

Golden Star Resources

$0.73

-0.0013 (-0.18%)

17:07
02/20/18
02/20
17:07
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17:07
Earnings
Golden Star Resources reports Q4 EPS 4c, consensus 2c »

Reports Q revenue $81.8M,…

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  • 21

    Feb

RAS

RAIT Financial

$0.44

-0.031 (-6.56%)

17:04
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Hot Stocks
RAIT Financial concludes strategic, alternative review process »

RAIT Financial Trust…

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