PHH Corp. (NYSE:PHH) – Investment analysts at Wedbush issued their Q3 2016 earnings estimates for shares of PHH Corp. in a research report issued on Monday. Wedbush analyst H. Coffey forecasts that the brokerage will post earnings per share of $0.05 for the quarter. Wedbush has a “Neutral” rating and a $16.00 price target on the stock. Wedbush also issued estimates for PHH Corp.’s Q4 2016 earnings at ($0.01) EPS, Q1 2017 earnings at $0.03 EPS, Q2 2017 earnings at $0.03 EPS, Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.07 EPS and FY2017 earnings at $0.20 EPS.
Other research analysts have also issued reports about the company. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of PHH Corp. in a research report on Monday, August 8th. Zacks Investment Research raised PHH Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Keefe, Bruyette & Woods lowered PHH Corp. from an “outperform” rating to a “market perform” rating and upped their target price for the company from $14.92 to $17.00 in a research report on Thursday, August 11th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.75.
PHH Corp. (NYSE:PHH) opened at 14.80 on Thursday. The stock’s 50 day moving average price is $14.73 and its 200-day moving average price is $13.85. The stock’s market capitalization is $792.20 million. PHH Corp. has a 52-week low of $8.26 and a 52-week high of $18.68.
PHH Corp. (NYSE:PHH) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.38. PHH Corp. had a negative return on equity of 6.33% and a negative net margin of 22.64%. The firm had revenue of $196 million for the quarter, compared to analysts’ expectations of $182 million. During the same period in the previous year, the firm earned ($1.43) EPS. The business’s quarterly revenue was down 17.3% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas raised its position in shares of PHH Corp. by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 7,514 shares of the company’s stock worth $100,000 after buying an additional 159 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of PHH Corp. by 1.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 37,567 shares of the company’s stock worth $500,000 after buying an additional 437 shares in the last quarter. BlackRock Inc. raised its position in shares of PHH Corp. by 15.7% in the first quarter. BlackRock Inc. now owns 8,149 shares of the company’s stock worth $102,000 after buying an additional 1,103 shares in the last quarter. American International Group Inc. raised its position in shares of PHH Corp. by 4.8% in the second quarter. American International Group Inc. now owns 30,502 shares of the company’s stock worth $406,000 after buying an additional 1,391 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of PHH Corp. by 5.6% in the second quarter. Nationwide Fund Advisors now owns 45,972 shares of the company’s stock worth $612,000 after buying an additional 2,448 shares in the last quarter.
PHH Corp. Company Profile
PHH Corporation (PHH) is a non-bank mortgage originator and servicer of the United States residential mortgage loans. The Company conducts its business through two segments: Mortgage Production and Mortgage Servicing. Its Mortgage Production segment originates, purchases and sells mortgage loans through PHH Mortgage.
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