Onity Group (NYSE:ONIT – Get Free Report) posted its earnings results on Thursday. The company reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.95), Zacks reports. Onity Group had a return on equity of 21.05% and a net margin of 1.41%.
Onity Group Stock Down 0.6 %
Shares of ONIT traded down $0.23 during midday trading on Friday, hitting $35.76. 54,942 shares of the company’s stock traded hands, compared to its average volume of 42,950. Onity Group has a 1 year low of $22.40 and a 1 year high of $41.27. The firm’s fifty day moving average is $33.47 and its 200-day moving average is $30.83. 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 price-to-earnings ratio of 23.68 and a beta of 1.87.
Analysts Set New Price Targets
A number of analysts have weighed in on ONIT shares. Keefe, Bruyette & Woods upped their target price on Onity Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. BTIG Research upgraded Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, December 9th. Finally, B. Riley upgraded Onity Group to a “strong-buy” rating in a report on Tuesday, January 7th.
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.
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