Onity Group (NYSE:ONIT) Issues Earnings Results, Beats Expectations By $2.70 EPS

Onity Group (NYSE:ONIT) issued its quarterly earnings data on Thursday. The company reported $4.07 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $2.70, Zacks reports. Onity Group had a net margin of 0.16% and a return on equity of 15.72%. The firm had revenue of $246.40 million for the quarter, compared to analyst estimates of $273.64 million. During the same quarter in the previous year, the business posted $1.04 EPS.

Onity Group Stock Performance

Shares of Onity Group stock traded down $2.56 during trading on Friday, reaching $26.22. The company had a trading volume of 17,048 shares, compared to its average volume of 23,346. The firm has a market cap of $204.78 million, a PE ratio of 49.47 and a beta of 1.84. The company has a debt-to-equity ratio of 21.76, a quick ratio of 21.72 and a current ratio of 21.72. Onity Group has a fifty-two week low of $21.15 and a fifty-two week high of $35.79.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded shares of Onity Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $32.00 to $33.00 in a report on Wednesday, July 10th.

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.