Onity Group Announces Second Quarter 2024 Results
Onity Group Inc. (ONIT)
Company Research
Source: GlobeNewswire
Net income of $11 million and diluted earnings per share of $1.33; annualized return on equity of 10%Adjusted pre-tax income of $32 million, driven by servicing segment28% annualized adjusted pre-tax return on equity$19 billion in total servicing additions ($12 billion in subservicing additions)Debt-to-equity ratio of 3.88 to 1Entered into a letter of intent in July for the acquisition of reverse mortgage assets from Waterfall Asset Management WEST PALM BEACH, Fla., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Onity Group Inc. (NYSE: ONIT) (“Onity” or the “Company”), a leading non-bank mortgage servicer and originator, today announced its second quarter 2024 results and provided a business update. The Company reported GAAP net income of $11 million for the second quarter with an adjusted pre-tax income of $32 million (see “Note Regarding Non-GAAP Financial Measures” below). “I’m thrilled with the performance of the Onity platform, which turned in powerful second quarter results reflecting i
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News
- Onity Group (NYSE: ONIT) was upgraded by analysts at B. Riley to a "strong-buy" rating.MarketBeat
- Waterfall Asset Management Expands Partnership with Onity Through Transfer of Reverse Mortgage AssetsPR Newswire
- Onity Group (NYSE: ONIT) had its price target raised by analysts at Keefe, Bruyette & Woods from $33.00 to $35.00. They now have an "outperform" rating on the stock.MarketBeat
- Onity Group Schedules Conference Call – Second Quarter 2024 Results and Business UpdateGlobeNewswire
- Onity Group (NYSE: ONIT) was upgraded by analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating.MarketBeat