Onity Group (NYSE:ONIT) Releases Quarterly Earnings Results, Misses Expectations By $0.95 EPS

Onity Group (NYSE:ONIT) posted its quarterly earnings data on Thursday. The company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.95), Zacks reports. The company had revenue of $224.80 million during the quarter, compared to the consensus estimate of $253.37 million. Onity Group had a net margin of 1.41% and a return on equity of 21.05%.

Onity Group Trading Down 0.6 %

Shares of ONIT stock traded down $0.23 on Friday, reaching $35.76. 54,942 shares of the company’s stock were exchanged, compared to its average volume of 42,950. Onity Group has a 52 week low of $22.40 and a 52 week high of $41.27. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28. The stock has a market capitalization of $281.40 million, a PE ratio of 23.68 and a beta of 1.87. The company’s fifty day simple moving average is $33.47 and its 200 day simple moving average is $30.83.

Analyst Ratings Changes

Several research firms have recently issued reports on ONIT. BTIG Research raised Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Monday, December 9th. B. Riley raised Onity Group to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their price objective on Onity Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th.

About Onity Group

Onity Group Inc, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.