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A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 4 estimates moving down in the past 30 days, compared with no upward revision. This trend has caused the consensus estimate to trend lower, going from $4.73 a share a month ago to its current level of $3.36.
Also, for the current quarter, Ocwen Financial has seen 3 downward estimate revisions versus no revision in the opposite direction, dragging the consensus estimate to 90 cents a share from $1.08 over the past 30
days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 17.19% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don't have a long time horizon to wait.
If you are still interested in the Retail sector, you may instead consider some better-ranked stocks including Atlas Financial Holdings, Inc. (NASDAQ: AFH), Anworth Mortgage Asset Corporation (NYSE: ANH) and Aspen Insurance Holding Limited (NYSE: AHL). Among these stocks, Atlas and Aspen hold a Zacks Rank #1 (Strong Buy) and Anworth holds a Zacks Rank #2 (Buy). With favorable Zacks Rank, these stocks may be better selections at this time.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ATLAS FINL HLDG (NASDAQ: AFH): Free Stock Analysis Report
ASPEN INS HLDGS (NYSE: AHL): Free Stock Analysis Report
ANWORTH MTGE (NYSE: ANH): Free Stock Analysis Report
OCWEN FINL CORP (NYSE: OCN): Free Stock Analysis Report
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