Economy

PHH Corp (NYSE:PHH) Sees Significantly Higher Trading Volume

Investors who are keeping close eye on the stock of PHH Corporation (NYSE:PHH) established that the company was able to keep return on investment at - in the trailing twelve month while Reuters data showed that industry's average stands at 5.27 and sector's optimum level is 15.20.

(NYSE:PHH) shares saw heavy trading volume with 2,908K shares changing hands on Tuesday. Oppenheimer Holdings, Inc. set a $18.00 price target on shares of PHH Corp and gave the company a "buy" rating in a research report on Wednesday, January 4th.

PHH Corp (NYSE:PHH) last issued its earnings results on Tuesday, August 8th. ValuEngine downgraded PHH Corp from a "sell" rating to a "strong sell" rating in a research note on Thursday, May 25th.

PHH Corporation (PHH) has a market capitalization of 682.38 Million which suggests the company is a huge company further suggesting that the shares of PHH Corporation (PHH) are stable and safe compared to the lower market capitalization companies. The stock is trading at $13.30 a tad under the 50 day moving average which is $14.06 and just below the 200 day moving average of $13.45.

1 number of analysts have estimated the sales of the company for the quarter ending Nov 6, 2017- Nov 10, 2017, analysts estimated mean sale target of 30 million while high and low sale targets are estimated at 30 million and 30 million respectively. Analysts expect next quarter's EPS will be $-0.72 with next year's EPS projected to be $-1.28. Zacks Investment Research upgraded shares of PHH Corp from a "sell" rating to a "hold" rating in a report on Saturday, July 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. During the same quarter in the previous year, the business earned ($0.08) EPS. The business's revenue for the quarter was down 42.9% on a year-over-year basis.

PHH Corp (PHH) now the company's industry has 12.28 P/E and the sector P/E is 16.36.

PHH Corp announced that its Board of Directors has approved a share buyback plan on Tuesday, August 8th that allows the company to repurchase $200.00 million in shares. The stock now has an average rating of "Hold" and a consensus target price of $15.60. This repurchase authorization authorizes the credit services provider to buy up to 26.9% of its stock through a dutch auction. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued. If you are viewing this news story on another domain, it was illegally copied and republished in violation of US and worldwide copyright & trademark laws. The legal version of this news story can be accessed at https://weekherald.com/2017/09/12/phh-corp-phh-earns-hold-rating-from-keefe-bruyette-woods.html. The insider now holds 73,376 shares of PHH Corporation (PHH). The Company operates through two segments: Mortgage Production and Mortgage Servicing. The insider, SILVER POINT CAPITAL L.P., now holds 5.35 million shares of PHH. Squarepoint Ops LLC now controls 15,000 shares worth $207,000. The firm owned 509,928 shares of the credit services provider's stock after acquiring an additional 27,500 shares during the period.

These firms have modified their investment in PHH. Bayesian Capital Management LP purchased a new stake in shares of PHH Corp in the second quarter worth about $190,000. As of quarter end Point72 Asset Management, L.p. had disposed of 1,414,000 shares trimming its stake by 80.1%.

As of quarter end Schonfeld Strategic Advisors LLC had bought 52,310 shares growing its holdings by 286.1%. The institutional investor owned 11,880 shares of the company's stock at the end of the fourth quarter.

PHH Corporation (PHH) is a non-bank mortgage originator and servicer of the United States residential mortgage loans.



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