PHH Corp (NYSE:PHH) posted its quarterly earnings data on Tuesday, August 8th. The credit services provider reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($1.31) by $0.50, Bloomberg Earnings reports. The company had revenue of $112 million during the quarter, compared to analysts’ expectations of $121.80 million. PHH Corp had a negative return on equity of 20.67% and a negative net margin of 55.15%. PHH Corp’s revenue for the quarter was down 42.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share.
PHH Corp (NYSE PHH) opened at 14.11 on Friday. The company’s 50-day moving average price is $13.97 and its 200 day moving average price is $13.44. PHH Corp has a 12 month low of $11.76 and a 12 month high of $15.73. The firm’s market capitalization is $723.93 million.
PHH Corp declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to purchase up to 14.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
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Several research firms have recently weighed in on PHH. Zacks Investment Research raised PHH Corp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. ValuEngine cut PHH Corp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Finally, Wedbush cut PHH Corp from an “outperform” rating to a “neutral” rating and set a $14.50 price objective for the company. in a research report on Tuesday, June 20th.
About PHH Corp
PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.
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