Ocwen Financial Stock Hits New 52-Week High (OCN)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Ocwen Financial Corporation (NYSE: OCN) hit a new 52-week high Wednesday as it is currently trading at $41.60, above its previous 52-week high of $41.57 with 638,968 shares traded as of 12:10 p.m. ET. Average volume has been 1.8 million shares over the past 30 days.

Ocwen Financial has a market cap of $5.53 billion and is part of the financial sector and banking industry. Shares are up 18.4% year to date as of the close of trading on Tuesday.

Ocwen Financial Corporation, through its subsidiaries, provides residential and commercial mortgage loan servicing, special servicing, and asset management services in the United States and internationally. The company has a P/E ratio of 45, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Ocwen Financial as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, good cash flow from operations, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Ocwen Financial Ratings Report.

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