Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Ocwen Financial (NYSE:OCN) fell as much as 11% today, after reporting third quarter earnings.

So what: Revenue rose 89.3% in the quarter, to $232.7 million, topping estimates of $230.0 million, but the bottom line is the focus today. Earnings per share were $0.37, $0.03 lower than estimates.

Now what: The bottom line has been a struggle for Ocwen over the past year. This is the third earnings miss in the last four quarters, and investors are clearly questioning lofty expectations for next year. Analysts have set their target at $4.06 in earnings per share next year and, if the company met that, the stock would be a steal. I don't think this is a reason to panic considering the fact that results are improving but it may be a chance for investors to lower expectations a bit in the future.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.