Onity Group (NYSE:ONIT) Posts Earnings Results, Misses Estimates By $0.95 EPS

Onity Group (NYSE:ONIT) announced its quarterly earnings results on Thursday. The company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.95), Zacks reports. Onity Group had a net margin of 1.41% and a return on equity of 21.05%. The company had revenue of $224.80 million during the quarter, compared to analysts’ expectations of $253.37 million.

Onity Group Stock Down 0.6 %

NYSE:ONIT traded down $0.23 during mid-day trading on Friday, hitting $35.76. 54,942 shares of the company’s stock traded hands, compared to its average volume of 42,950. The company has a fifty day moving average of $33.47 and a 200 day moving average of $30.83. The company has a debt-to-equity ratio of 20.28, a quick ratio of 26.46 and a current ratio of 26.46. The company has a market capitalization of $281.40 million, a P/E ratio of 23.68 and a beta of 1.87. Onity Group has a twelve month low of $22.40 and a twelve month high of $41.27.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their target price on Onity Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. BTIG Research raised Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, December 9th. Finally, B. Riley raised Onity Group to a “strong-buy” rating in a research report on Tuesday, January 7th.

Onity Group Company Profile

Onity Group Inc, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.