Several other brokerages have also issued reports on PHH. Zacks Investment Research raised PHH Corp. from a sell rating to a hold rating in a research report on Tuesday, July 19th. Oppenheimer Holdings Inc. reaffirmed a buy rating on shares of PHH Corp. in a research report on Monday, August 8th. Finally, Keefe, Bruyette & Woods lowered PHH Corp. from an outperform rating to a market perform rating and raised their target price for the company from $14.92 to $17.00 in a research report on Thursday, August 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $14.75.
PHH Corp. (NYSE:PHH) opened at 14.92 on Monday. PHH Corp. has a 1-year low of $8.26 and a 1-year high of $18.68. The company has a 50-day moving average price of $14.74 and a 200-day moving average price of $13.83. The firm’s market cap is $798.62 million.
PHH Corp. (NYSE:PHH) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.38. The business earned $196 million during the quarter, compared to analyst estimates of $182 million. PHH Corp. had a negative return on equity of 6.33% and a negative net margin of 22.64%. PHH Corp.’s quarterly revenue was down 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.43) EPS. On average, equities research analysts forecast that PHH Corp. will post ($1.17) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of PHH. Three Corner Global Investors LP purchased a new position in PHH Corp. during the second quarter valued at $20,625,000. BlackRock Institutional Trust Company N.A. increased its position in shares of PHH Corp. by 4.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,341,879 shares of the company’s stock valued at $17,874,000 after buying an additional 57,015 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of PHH Corp. by 20.4% in the second quarter. BlackRock Fund Advisors now owns 1,245,473 shares of the company’s stock valued at $16,590,000 after buying an additional 211,161 shares in the last quarter. State Street Corp increased its position in shares of PHH Corp. by 3.2% in the second quarter. State Street Corp now owns 1,050,492 shares of the company’s stock valued at $13,990,000 after buying an additional 32,296 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of PHH Corp. by 10.7% in the second quarter. California Public Employees Retirement System now owns 554,432 shares of the company’s stock valued at $7,385,000 after buying an additional 53,700 shares in the last quarter.
About PHH Corp.
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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