Sterne Agee CRT Downgrades PHH Corporation to Neutral

Brokerage firm Sterne Agee CRT Downgrades its rating on PHH Corporation(NYSE:PHH). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Sterne Agee CRT was issued on Apr 12, 2016.

In a different note, On Feb 29, 2016, Keefe Bruyette & Woods said it Maintains its rating on PHH Corporation. In the research note, the firm Lowers the price-target to $21.00 per share. The shares have been rated ‘Outperform’ by the firm.

PHH Corporation (PHH) shares turned negative on Fridays trading session with the shares closing down -0.16 points or -1.40% at a volume of 3,01,003. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.66. The peak price level was also seen at $11.66 while the days lowest was $11.28. Finally the shares closed at $11.3. The 52-week high of the shares is $27.83 while the 52-week low is $8.2601. According to the latest information available, the market cap of the company is $605 M.

PHH Corporation(PHH) last announced its earnings results on Feb 24, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $123.00M. Analysts had an estimated revenue of $197.90M. Earnings per share were $-0.38. Analysts had estimated an EPS of $-0.30.

Several Insider Transactions has been reported to the SEC. On May 20, 2015, Gregory J Parseghian (director) sold 5,000 shares at $27.09 per share price.Also, On May 20, 2015, William F Brown (SVP, GC & Secretary) sold 14,933 shares at $27.16 per share price.On May 14, 2015, Carroll R Wetzel (director) sold 1,700 shares at $27.11 per share price, according to the Form-4 filing with the securities and exchange commission.

PHH Corporation (PHH) is an outsource provider of residential mortgage services. The Company conducts its business through two segments: Mortgage Production and Mortgage Servicing. Its Mortgage Production segment originates purchases and sells mortgage loans through PHH Mortgage. The Mortgage Servicing segment services mortgage loans originated by PHH Mortgage and acts as a subservicer for certain clients that own the underlying servicing rights. The Company is a non-bank mortgage originator and servicer of United States residential mortgage loans. Through its wholly-owned subsidiary PHH Mortgage Corporation and its subsidiaries (PHH Mortgage) the Company provides outsourced mortgage banking services to a variety of clients including financial institutions and real estate brokers throughout the United States and are focused on originating selling and servicing residential mortgage loans.

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