PHH Corp (NYSE:PHH) announced its quarterly earnings data on Tuesday, August 8th. The credit services provider reported ($0.81) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.31) by $0.50, Bloomberg Earnings reports. The business had revenue of $112 million for the quarter, compared to analysts’ expectations of $121.80 million. PHH Corp had a negative net margin of 55.15% and a negative return on equity of 20.67%. The business’s revenue was down 42.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) earnings per share.
PHH Corp (NYSE:PHH) opened at 14.11 on Friday. The stock has a 50 day moving average of $13.97 and a 200 day moving average of $13.44. The company’s market cap is $723.93 million. PHH Corp has a 52 week low of $11.76 and a 52 week high of $15.73.
PHH Corp declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the credit services provider to reacquire up to 14.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
PHH has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of PHH Corp from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. ValuEngine cut shares of PHH Corp from a “sell” rating to a “strong sell” rating in a report on Thursday, May 25th. Finally, Wedbush downgraded shares of PHH Corp from an “outperform” rating to a “neutral” rating and set a $14.50 target price on the stock. in a research note on Tuesday, June 20th.
PHH Corp Company Profile
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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