PHH Corporation (PHH) was Downgraded by Sterne Agee CRT to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Sterne Agee CRT advised their investors in a research report released on Apr 12, 2016.
Many Wall Street Analysts have commented on PHH Corporation. PHH Corporation was Downgraded by Sterne Agee CRT to ” Neutral” on Apr 12, 2016. Shares were Reiterated by Compass Point on Apr 12, 2016 to “Buy” and Lowered the Price Target to $ 13 from a previous price target of $19 .
On the company’s financial health, PHH Corporation reported $-0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus of $-0.21. The company had revenue of $123.00 million for the quarter, compared to analysts expectations of $193.75 million. The company’s revenue was down -31.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.47 EPS.
PHH Corporation closed down -2.15 points or -17.30% at $10.28 with 32,20,633 shares getting traded on Monday. Post opening the session at $9.76, the shares hit an intraday low of $9.73 and an intraday high of $11.04 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on May 20, 2015, Gregory J Parseghian (director) sold 5,000 shares at $27.09 per share price. According to the SEC, 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.