Onity Group (NYSE:ONIT) Releases Earnings Results, Misses Expectations By $0.95 EPS

Onity Group (NYSE:ONIT) announced its quarterly earnings results on Thursday. The company reported $1.39 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.95), Zacks reports. Onity Group had a return on equity of 21.05% and a net margin of 1.41%.

Onity Group Trading Down 12.2 %

ONIT stock traded down $4.78 during midday trading on Thursday, hitting $34.47. The stock had a trading volume of 26,459 shares, compared to its average volume of 44,563. The company’s 50-day moving average price is $33.41 and its 200 day moving average price is $30.79. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46. The firm has a market cap of $271.29 million, a PE ratio of 22.85 and a beta of 1.87. Onity Group has a 12-month low of $22.40 and a 12-month high of $41.27.

Wall Street Analyst Weigh In

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

About Onity Group

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.