How It All Plays Out: Latest Research on Moody's, PennyMac, Nationstar Mortgage, Nelnet, and Ocwen Financial
NEW YORK, March 24, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Moments ago, Analysts Review released new research updates concerning several important developing situations including Moody's Corporation (NYSE: MCO), PennyMac Financial Services, Inc. (NYSE: PFSI), Nationstar Mortgage Holdings Inc. (NYSE: NSM), Nelnet, Inc. (NYSE: NNI), and Ocwen Financial Corporation (NYSE: OCN). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
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Today's update concerns the following companies:
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Full PDF Download Links (you may have to copy and paste the following links into your browser):
MCO Research Report: ( http://get.analystsreview.com/pdf/?c=Moody%27s&d=24-Mar-2015&s=MCO ),
PFSI Research Report: ( http://get.analystsreview.com/pdf/?c=PennyMac&d=24-Mar-2015&s=PFSI ),
NSM Research Report: ( http://get.analystsreview.com/pdf/?c=Nationstar%20Mortgage&d=24-Mar-2015&s=NSM ),
NNI Research Report: ( http://get.analystsreview.com/pdf/?c=Nelnet&d=24-Mar-2015&s=NNI ),
OCN Research Report: ( http://get.analystsreview.com/pdf/?c=Ocwen%20Financial&d=24-Mar-2015&s=OCN ).
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Analyst Update: Acquisition, Quarterly Earnings Results, and Sale of Portfolio
Reviewed by: Rohit Tuli, CFA®
US stocks closed lower on Monday, as it erased most of its early hour gains in the final hour of trading. Traders pulled back following last week's rally despite renewed weakness in the dollar index and a fresh rally in the oil prices. The S&P 500 declined 3.68 points, or 0.17%, to end at 2104.42, and the Dow Jones Industrial Average fell 11.61 points or 0.06% to 18116.04. The tech-heavy NASDAQ edged 15.45 points or 0.31% lower to close at 5010.97. On economic front, sales of previously owned homes in US rose 1.2% in February, while economists surveyed by The Wall Street Journal had expected a 1.7% increase. European benchmark indices mostly ended lower on Monday, partly due to profit taking after strong advances in the previous session. Germany's DAX 30 fell 143.53 points or 1.19% to 11,895.84, and Eurostoxx 50 was lower 27.03 points or 0.73% to 3,699.04. France's CAC 40 declined 32.97 points or 0.65% to 5,054.52.
Moody's Corporation (Moody's) has reported that it has agreed to acquire the Peru-based Equilibrium, which is a leading provider of credit rating and research services in Peru and other countries in Latin America. Following the completion of acquisition, Equilibrium will continue to issue domestic ratings in Peru and Panama with an independent analytical and rating committee process, with operations continue to be led by Renzo Barbieri.
PennyMac Financial Services, Inc. (PennyMac) reported fourth quarter 2014 results with net income of $45.9 million on revenue of $141.7 million, compared with net income of $37.3 million on revenue of $90.4 million in Q4 2013. The Company's pretax income of $53.2 million was down 15% on a sequential basis.
Nationstar Mortgage Holdings Inc. (Nationstar Mortgage) reported financial results for its fourth quarter 2014 with net income of $19 million, or $0.21 per share, down from $111 million or $1.22 per share in the third quarter. Core EPS for the quarter was $0.58, down from $0.80 in the third quarter.
Nelnet, Inc. (Nelnet) reported its fourth quarter 2014 results with GAAP net income of $73.6 million, or $1.59 per share, compared with GAAP net income of $70.5 million, or $1.52 per share, in Q4 2013. For full year 2014, GAAP net income stood at $307.6 million, or $6.62 per share, compared with GAAP net income of $302.7 million or $6.50 per share, for FY 2013.
Ocwen Financial Corporation (Ocwen Financial) reported that it intends to sell $9.6 billion portfolio of mortgage servicing rights to Green Tree Loan Servicing LLC (Green Tree). The transaction involves the Company's subsidiary, Ocwen Loan Servicing, LLC (Ocwen), and Green Tree which have signed an agreement in principle for the sale by Ocwen of residential mortgage servicing rights on a portfolio consisting of approximately 55,500 largely performing loans owned by Freddie Mac.
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Editor Note: This is not company news. We are an independent source and our views do not reflect the companies mentioned.
Compliance Procedure: Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Analysts Review, represented by Rohit Tuli, CFA®. An outsourced research services provider has only reviewed the information provided by Analysts Review in this article or report according to the procedures outlined by Analysts Review. Analysts Review is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
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SOURCE Analysts Review
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