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

Onity Group (NYSE:ONIT) released its earnings results 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. Onity Group had a return on equity of 21.05% and a net margin of 1.41%.

Onity Group Stock Down 11.2 %

Onity Group stock traded down $4.41 during trading on Thursday, hitting $34.84. 31,001 shares of the company were exchanged, compared to its average volume of 44,704. The business’s 50 day moving average is $33.41 and its 200 day moving average is $30.79. Onity Group has a 52 week low of $22.40 and a 52 week high of $41.27. The company has a market capitalization of $274.22 million, a P/E ratio of 23.03 and a beta of 1.87. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. 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. Keefe, Bruyette & Woods boosted their price objective on Onity Group from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. 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.