Onity Group (ONIT) Stock Price, News & Analysis

Company Overview

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. It also originates and purchases conventional and government-insured residential forward and reverse mortgage loans through its correspondent lending arrangements, broker relationships, and retail channels. It serves primarily under the PHH Mortgage and Liberty Reverse Mortgage brands. The company was formerly known as Ocwen Financial Corporation and changed its name to Onity Group Inc. in June 2024. Onity Group Inc. was founded in 1988 and is headquartered in West Palm Beach, Florida.

Key Stats

• Today's Range: $29.86 to $30.50
• 50-Day Range: $28.17 to $33.97
• 52-Week Range: $22.40 to $36.91
• Volume: 34,171 shs
• Average Volume: 38,177 shs
• Market Capitalization: $236.65 million
• P/E Ratio: 19.91
• Dividend Yield: N/A
• Price Target: $45.00
• Consensus Rating: Strong Buy

Onity Group Stock Analysis - MarketRank™

Onity Group scored higher than 76% of companies evaluated by MarketBeat, and ranked 336th out of 963 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.8 / 5
• Analyst Rating: Strong Buy

Consensus Rating

Onity Group has received a consensus rating of Strong Buy. The company's average rating score is 3.50, and is based on 1 buy rating, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Onity Group has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 1.27%

Earnings Growth

Earnings for Onity Group are expected to grow by 1.27% in the coming year, from $10.21 to $10.34 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Onity Group is 19.91, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 110.87.

Price to Earnings Ratio vs. Sector

The P/E ratio of Onity Group is 19.91, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 26.17.

Price to Book Value per Share Ratio

Onity Group has a P/B Ratio of 0.51. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.65% of the float of Onity Group has been sold short.

Short Interest Ratio / Days to Cover

Onity Group has a short interest ratio ("days to cover") of 1.5, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Onity Group has recently increased by 15.63%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Onity Group does not currently pay a dividend.

Dividend Growth

Onity Group does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

0.65% of the float of Onity Group has been sold short.

Short Interest Ratio / Days to Cover

Onity Group has a short interest ratio ("days to cover") of 1.5, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Onity Group has recently increased by 15.63%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 1.9 / 5
• News Sentiment: 0.50

News Sentiment

Onity Group has a news sentiment score of 0.50. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.68 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 2 news articles for Onity Group this week, compared to 1 article on an average week.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Onity Group insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 7.60% of the stock of Onity Group is held by insiders.

Percentage Held by Institutions

70.16% of the stock of Onity Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

ONIT Stock Analysis - Frequently Asked Questions

How have ONIT shares performed this year?

Onity Group's stock was trading at $23.57 at the start of the year. Since then, ONIT shares have increased by 27.6% and is now trading at $30.07.
View the best growth stocks for 2024 here.

How were Onity Group's earnings last quarter?

Onity Group (NYSE:ONIT) posted its earnings results on Thursday, August, 1st. The company reported $4.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $2.70. The company had revenue of $246.40 million for the quarter, compared to analysts' expectations of $273.64 million. Onity Group had a trailing twelve-month return on equity of 21.05% and a net margin of 1.41%.

How do I buy shares of Onity Group?

Shares of ONIT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Onity Group own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Onity Group investors own include Tesla (TSLA), JPMorgan Chase & Co. (JPM), Advanced Micro Devices (AMD), NVIDIA (NVDA), Meta Platforms (META), Netflix (NFLX) and Home Depot (HD).

Company Calendar

• Last Earnings: 8/01/2024
• Today: 11/17/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/25/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Mortgage bankers & correspondents
• Sub-Industry: Banking
• Current Symbol: NYSE:ONIT
• Previous Symbol: NYSE:ONIT
• CUSIP: N/A
• CIK: 873860
• Web: N/A
• Phone: (561) 682-8000
• Fax: 561-681-8177
• Employees: 4,500
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $45.00
• High Stock Price Target: $45.00
• Low Stock Price Target: $45.00
• Potential Upside/Downside: +49.7%
• Consensus Rating: Strong Buy
• Rating Score (0-4): 3.50
• Research Coverage: 2 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.51
• Trailing P/E Ratio: 19.91
• Forward P/E Ratio: 2.95
• P/E Growth: N/A
• Net Income: $-63,700,000.00
• Net Margins: 1.41%
• Pretax Margin: 2.65%
• Return on Equity: 21.05%
• Return on Assets: 0.71%

Debt

• Debt-to-Equity Ratio: 20.28
• Current Ratio: 26.46
• Quick Ratio: 24.04

Sales & Book Value

• Annual Sales: $1.07 billion
• Price / Sales: 0.22
• Cash Flow: $10.30 per share
• Price / Cash Flow: 2.92
• Book Value: $59.50 per share
• Price / Book: 0.51

Miscellaneous

• Outstanding Shares: 7,870,000
• Free Float: 7,271,000
• Market Cap: $236.65 million
• Optionable: Optionable
• Beta: 1.85