PHH Corp (PHH) Announces Earnings Results, Beats Estimates By $0.50 EPS

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, beating analysts’ consensus estimates of ($1.31) by $0.50, Bloomberg Earnings reports. The firm had revenue of $112 million during 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 quarterly revenue was down 42.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share.

PHH Corp (NYSE PHH) opened at 14.11 on Friday. The company has a 50-day moving average of $13.97 and a 200-day moving average of $13.44. PHH Corp has a 52 week low of $11.76 and a 52 week high of $15.73. The stock’s market cap is $723.93 million.

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PHH Corp declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 9th that permits the company to repurchase $100.00 million in 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 a sign that the company’s leadership believes its shares are undervalued.

PHH has been the subject of a number of 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 cut shares of PHH Corp from an “outperform” rating to a “neutral” rating and set a $14.50 price objective for the company. in a 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.

Earnings History for PHH Corp (NYSE:PHH)

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