Market Overview

Ocwen Financial Corporation Lower Off Mixed Q4 Report


Ocwen Financial Corp (NYSE: OCN) shares are trading lower by $1.03 at $4.37 in Thursday's session. After the close on Wednesday, the company announced a fourth-quarter EPS beat of $0.09, but the Street is focusing on its revenue shortfall of $5.1 million.

After a higher open, it rallied two cents above Wednesday's high ($5.51), reaching $5.53 before reversing course. The ensuing decline has taken the issue well into the $4.00 handle as $4.34 stands as the current low for the year-to-date. That marks the lowest level for the issue since it bottomed on November 9 at $4.28. At this time, it is attempting to distance itself that low but as of 11:54 a.m. has only been able to reach $4.40.

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