Ocwen Financial (OCN) shares rose more than 4% Thursday after it reported a 51% spike in Q4 revenue, to $236.4 million, and adjusted earnings of 51 cents, up 82% from the year earlier. Now investors are turning their sights to another major special mortgage servicer, Nationstar Mortgage (NSM), which will report on Thursday, Investor’s Business Daily reported.
Analysts expect Nationstar, which went public last March, to post $306 million in Q4 revenue and per-share profit of 69 cents. Nationstar shares rose 1.7% to 39.18 Friday. The company's stock has soared 180% since it went public in March 2012.
Nationstar's management has said they expect to originate at least $16 billion in loans this year, more than double the annualized run rate through the third quarter of 2012.
Ocwen outbid Nationstar in a bankruptcy auction in October. Nationstar went on to win $215 billion in loan servicing rights from Bank of America, bringing its servicing portfolio to $425 billion.OCN and NSM are Cabot Top Ten Trader stocks.
Related page: Aggressive Growth Stocks for Retirement
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