PHH Corporation (PHH) Releases Earnings Results, Beats Expectations By $0.26 EPS

PHH Corporation (PHH) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $-0.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.26. Analysts had a consensus of $-0.34. The company posted revenue of $196.00 million in the period, compared to analysts expectations of $176.55 million. The company’s revenue was down -17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.43 EPS.

PHH Corporation opened for trading at $14.76 and hit $15.05 on the upside on Friday, eventually ending the session at $14.99, with a gain of 3.09% or 0.45 points. The heightened volatility saw the trading volume jump to 5,09,684 shares. Company has a market cap of $802 M.

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.

PHH Corporation

Leave a Reply

PHH Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on PHH Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.