PHH (NYSE:PHH) announced its quarterly earnings data on Tuesday. The credit services provider reported ($1.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.68) by $0.24, Bloomberg Earnings reports. The firm had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $103.70 million. PHH had a negative net margin of 71.84% and a negative return on equity of 27.98%.
Shares of PHH (PHH) traded up $0.06 during trading hours on Thursday, hitting $10.64. 4,274,804 shares of the company were exchanged, compared to its average volume of 765,754. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.84. PHH has a 12-month low of $8.01 and a 12-month high of $15.00. The company has a market capitalization of $277.30, a price-to-earnings ratio of -1.85 and a beta of 1.74.
In related news, SVP William F. Brown sold 8,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $11.12, for a total transaction of $88,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.52% of the stock is currently owned by corporate insiders.
PHH declared that its Board of Directors has authorized a share buyback program on Tuesday, November 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
PHH Company Profile
PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.
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