Jefferies Financial Group Equities Analysts Decrease Earnings Estimates for Mr. Cooper Group Inc. (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOPGet Rating) – Research analysts at Jefferies Financial Group cut their Q1 2023 earnings per share (EPS) estimates for shares of Mr. Cooper Group in a research report issued to clients and investors on Friday, November 18th. Jefferies Financial Group analyst K. Joseph now anticipates that the company will post earnings per share of $1.00 for the quarter, down from their prior estimate of $1.10. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $2.40 per share. Jefferies Financial Group also issued estimates for Mr. Cooper Group’s Q2 2023 earnings at $1.09 EPS, Q3 2023 earnings at $1.18 EPS, Q1 2024 earnings at $1.25 EPS, Q2 2024 earnings at $1.30 EPS and Q3 2024 earnings at $1.33 EPS.

Other equities analysts have also recently issued research reports about the company. Piper Sandler lifted their target price on Mr. Cooper Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 10th. Wedbush lowered their target price on Mr. Cooper Group from $60.00 to $55.00 in a research note on Thursday, October 27th. Barclays lowered their target price on Mr. Cooper Group from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, October 17th. Finally, Compass Point lowered their target price on Mr. Cooper Group to $64.00 in a research note on Tuesday, November 1st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.60.

Mr. Cooper Group Trading Up 1.0 %

Shares of COOP opened at $43.25 on Monday. Mr. Cooper Group has a 1-year low of $35.81 and a 1-year high of $52.34. The business’s 50-day moving average price is $42.23 and its 200 day moving average price is $41.97. The stock has a market capitalization of $3.05 billion, a P/E ratio of 3.05 and a beta of 1.42.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 21,000 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $40.18, for a total value of $843,780.00. Following the completion of the sale, the chief executive officer now owns 739,291 shares of the company’s stock, valued at approximately $29,704,712.38. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in COOP. Federated Hermes Inc. lifted its holdings in Mr. Cooper Group by 55.1% in the 3rd quarter. Federated Hermes Inc. now owns 752 shares of the company’s stock worth $30,000 after purchasing an additional 267 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Mr. Cooper Group by 54.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 986 shares of the company’s stock worth $40,000 after purchasing an additional 349 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Mr. Cooper Group by 843.4% during the third quarter. Quadrant Capital Group LLC now owns 1,368 shares of the company’s stock worth $55,000 after buying an additional 1,223 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Mr. Cooper Group during the first quarter worth approximately $85,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Mr. Cooper Group by 430.9% during the third quarter. EverSource Wealth Advisors LLC now owns 2,097 shares of the company’s stock worth $85,000 after buying an additional 1,702 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

About Mr. Cooper Group

(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.

Further Reading

Earnings History and Estimates for Mr. Cooper Group (NASDAQ:COOP)

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