PHH Corp (NYSE:PHH) – Equities researchers at Wedbush increased their Q4 2017 earnings estimates for shares of PHH Corp in a report issued on Wednesday. Wedbush analyst H. Coffey now anticipates that the credit services provider will post earnings of ($1.68) per share for the quarter, up from their previous forecast of ($2.23). Wedbush also issued estimates for PHH Corp’s Q1 2018 earnings at ($1.14) EPS and Q2 2018 earnings at ($1.36) EPS.
A number of other analysts have also recently weighed in on PHH. Zacks Investment Research upgraded PHH Corp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. BidaskClub upgraded PHH Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. ValuEngine upgraded PHH Corp from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.00 price target on shares of PHH Corp in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. PHH Corp currently has an average rating of “Hold” and a consensus price target of $15.83.
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Shares of PHH Corp (NYSE PHH) opened at $11.06 on Monday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 2.94 and a current ratio of 2.94. PHH Corp has a 1 year low of $10.97 and a 1 year high of $15.70.
PHH Corp (NYSE:PHH) last released its quarterly earnings data on Tuesday, November 7th. The credit services provider reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.38). The firm had revenue of $121.00 million for the quarter, compared to the consensus estimate of $61.00 million. PHH Corp had a negative net margin of 71.84% and a negative return on equity of 27.98%. The business’s revenue for the quarter was down 38.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share.
PHH Corp declared that its board has authorized a stock repurchase plan on Tuesday, August 8th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 26.9% of its shares through a dutch auction. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other PHH Corp news, Director Carroll R. Wetzel sold 21,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $14.25, for a total value of $299,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.52% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of PHH. BNP Paribas Arbitrage SA lifted its stake in shares of PHH Corp by 237.1% during the second quarter. BNP Paribas Arbitrage SA now owns 8,482 shares of the credit services provider’s stock valued at $117,000 after acquiring an additional 5,966 shares during the period. Bayesian Capital Management LP acquired a new position in shares of PHH Corp during the second quarter valued at $190,000. Hancock Holding Co. acquired a new position in shares of PHH Corp during the second quarter valued at $199,000. Aperio Group LLC lifted its stake in shares of PHH Corp by 12.2% during the second quarter. Aperio Group LLC now owns 20,249 shares of the credit services provider’s stock valued at $279,000 after acquiring an additional 2,194 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of PHH Corp during the third quarter valued at $298,000. 97.50% of the stock is currently owned by institutional investors and hedge funds.
PHH Corp 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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