PHH Corporation (PHH) is Initiated by Wedbush to Neutral, Price Target at $16

PHH Corporation (PHH) was Initiated by Wedbush to “Neutral” and the brokerage firm has set the Price Target at $16. Wedbush advised their investors in a research report released on Oct 11, 2016.

Many Wall Street Analysts have commented on PHH Corporation. Keefe Bruyette Downgraded PHH Corporation on Aug 11, 2016 to ” Mkt Perform”, Price Target of the shares are set at $17.

On the company’s financial health, PHH Corporation reported $-0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.34. The company had revenue of $196.00 million for the quarter, 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 closed down -0.26 points or -1.75% at $14.57 with 2,16,838 shares getting traded on Friday. Post opening the session at $14.77, the shares hit an intraday low of $14.4 and an intraday high of $14.83 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

PHH Corporation

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