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

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

Onity Group Stock Down 12.2 %

NYSE ONIT traded down $4.78 on Thursday, reaching $34.47. The company had a trading volume of 26,459 shares, compared to its average volume of 44,563. The firm has a market capitalization of $271.29 million, a PE ratio of 22.85 and a beta of 1.87. The firm has a 50-day moving average of $33.41 and a 200-day moving average of $30.79. Onity Group has a 1 year low of $22.40 and a 1 year high of $41.27. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46.

Analyst Upgrades and Downgrades

ONIT has been the topic of a number of recent research reports. B. Riley raised shares of Onity Group to a “strong-buy” rating in a research report on Tuesday, January 7th. BTIG Research raised shares of Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Onity Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report 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.