Onity Group Inc. (NYSE:ONIT) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Onity Group Inc. has received a consensus rating of "Moderate Buy" from four brokerages, with one analyst recommending a sell and three recommending a buy.
• The average 12-month price target for Onity Group's stock is $50.00, although some analysts have raised it to $55.00.
• Despite a recent earnings miss, Onity Group reported revenue of $246.60 million and anticipates a 10.51 EPS for the current fiscal year.

Onity Group Inc. (NYSE:ONIT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the four brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $50.00.

Several equities analysts have weighed in on ONIT shares. Weiss Ratings restated a "hold (c)" rating on shares of Onity Group in a report on Saturday, September 27th. Wall Street Zen upgraded Onity Group from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Keefe, Bruyette & Woods raised their price target on Onity Group from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Zacks Research cut Onity Group from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. Finally, B. Riley raised their price target on Onity Group from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, June 20th.

Onity Group Stock Performance

ONIT remained flat at $37.87 on Friday. The company had a trading volume of 30,955 shares, compared to its average volume of 47,177. The firm has a 50 day simple moving average of $40.92 and a 200 day simple moving average of $37.26. The company has a market capitalization of $305.23 million, a price-to-earnings ratio of 9.66 and a beta of 1.49. Onity Group has a 52 week low of $25.50 and a 52 week high of $45.83. The company has a current ratio of 37.90, a quick ratio of 37.90 and a debt-to-equity ratio of 23.99.

Onity Group (NYSE:ONIT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.21). The business had revenue of $246.60 million for the quarter, compared to the consensus estimate of $252.90 million. Onity Group had a net margin of 3.74% and a return on equity of 18.99%. As a group, equities analysts anticipate that Onity Group will post 10.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Onity Group

A number of institutional investors and hedge funds have recently modified their holdings of ONIT. Cullen Frost Bankers Inc. boosted its holdings in Onity Group by 169.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 988 shares of the company's stock valued at $38,000 after acquiring an additional 622 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Onity Group in the fourth quarter worth about $84,000. State of Wyoming acquired a new stake in shares of Onity Group in the second quarter worth approximately $119,000. BNP Paribas Financial Markets raised its position in Onity Group by 367.2% in the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company's stock valued at $121,000 after purchasing an additional 2,486 shares during the period. Finally, GAMMA Investing LLC raised its position in Onity Group by 7,724.6% in the first quarter. GAMMA Investing LLC now owns 4,460 shares of the company's stock valued at $138,000 after purchasing an additional 4,403 shares during the period. Hedge funds and other institutional investors own 70.16% of the company's stock.

Onity Group Company Profile

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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