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Ocwen Financial Corp. (NYSE:OCN): Current Price: $39.47
The company reported a Q4 EPS totaling $0.47, which is $0.03 below the analyst estimate of $0.50, and its revenue for the quarter was at $236.4 million compared to the consensus estimate of $231.28 million. Ocwen Chairman Bill Erbey stated, “Ocwen continues to produce strong cash-flows well in excess of book earnings. Ocwen generated adjusted cash-flow from operations of $220 million in the fourth quarter of 2012 and $719 million for the year. Moreover, we have significantly reduced our cost of capital as we have benefitted from the substantial improvement in our recent funding costs for both senior term debt and advance funding. These funding cost improvements should enhance our margins in 2013 and beyond.”
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