Brokers Issue Forecasts for Mr. Cooper Group Inc.’s FY2023 Earnings (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) – Investment analysts at Wedbush cut their FY2023 earnings per share estimates for shares of Mr. Cooper Group in a research note issued on Wednesday, May 4th. Wedbush analyst H. Coffey now expects that the company will earn $6.70 per share for the year, down from their prior estimate of $7.00.

Several other research analysts also recently weighed in on the stock. BTIG Research initiated coverage on shares of Mr. Cooper Group in a research report on Wednesday, April 20th. They issued a “neutral” rating on the stock. Zacks Investment Research downgraded shares of Mr. Cooper Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Piper Sandler lifted their target price on shares of Mr. Cooper Group from $60.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, February 14th. Barclays dropped their target price on shares of Mr. Cooper Group from $51.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 12th. Finally, Credit Suisse Group lifted their target price on shares of Mr. Cooper Group from $52.00 to $59.00 and gave the stock an “outperform” rating in a research report on Monday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Mr. Cooper Group has an average rating of “Hold” and an average target price of $57.20.

NASDAQ COOP opened at $46.87 on Thursday. The company’s 50 day simple moving average is $46.06 and its 200 day simple moving average is $43.98. Mr. Cooper Group has a 12 month low of $31.42 and a 12 month high of $52.34. The company has a market capitalization of $3.46 billion, a P/E ratio of 2.50 and a beta of 1.39.

Mr. Cooper Group (NASDAQ:COOP – Get Rating) last released its earnings results on Thursday, April 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. Mr. Cooper Group had a net margin of 48.79% and a return on equity of 16.11%. The business had revenue of $625.00 million for the quarter, compared to the consensus estimate of $591.14 million. During the same period in the previous year, the firm earned $2.87 EPS. The business’s revenue for the quarter was down 50.7% on a year-over-year basis.

Several institutional investors have recently modified their holdings of COOP. Raymond James & Associates lifted its stake in shares of Mr. Cooper Group by 59.1% in the third quarter. Raymond James & Associates now owns 32,850 shares of the company’s stock worth $1,352,000 after buying an additional 12,197 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Mr. Cooper Group by 16.6% in the third quarter. Principal Financial Group Inc. now owns 829,529 shares of the company’s stock worth $34,152,000 after buying an additional 117,801 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Mr. Cooper Group by 1.4% in the third quarter. BlackRock Inc. now owns 10,699,090 shares of the company’s stock worth $440,480,000 after buying an additional 142,556 shares during the last quarter. Barclays PLC lifted its stake in shares of Mr. Cooper Group by 18.4% in the third quarter. Barclays PLC now owns 74,157 shares of the company’s stock worth $3,053,000 after buying an additional 11,523 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Mr. Cooper Group by 15.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 11,049 shares of the company’s stock valued at $455,000 after purchasing an additional 1,467 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $50.04, for a total value of $500,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eldridge A. Burns sold 3,603 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $49.29, for a total transaction of $177,591.87. The disclosure for this sale can be found here. Insiders have sold 59,603 shares of company stock worth $2,816,992 over the last ninety days. 2.59% of the stock is currently owned by insiders.

Mr. Cooper Group Company Profile (Get Rating)

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in the United States. The company operates through two segments: Servicing and Originations. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.

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