Wedbush Analysts Lift Earnings Estimates for Mr. Cooper Group Inc. (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) – Research analysts at Wedbush boosted their Q3 2024 earnings per share estimates for shares of Mr. Cooper Group in a research note issued on Thursday, April 25th. Wedbush analyst J. Mccanless now forecasts that the company will post earnings of $2.47 per share for the quarter, up from their previous estimate of $2.29. Wedbush has a “Outperform” rating and a $100.00 price target on the stock. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $9.01 per share. Wedbush also issued estimates for Mr. Cooper Group’s Q4 2024 earnings at $2.27 EPS, Q1 2025 earnings at $2.56 EPS, Q2 2025 earnings at $2.84 EPS, Q3 2025 earnings at $2.95 EPS, Q4 2025 earnings at $2.95 EPS and FY2025 earnings at $11.30 EPS.

Several other equities research analysts have also weighed in on the company. Jefferies Financial Group increased their target price on Mr. Cooper Group from $74.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 price target (up previously from $86.00) on shares of Mr. Cooper Group in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Barclays increased their price target on Mr. Cooper Group from $85.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.22.

Mr. Cooper Group Trading Down 0.0 %

Mr. Cooper Group stock opened at $78.73 on Friday. The stock has a market cap of $5.14 billion, a P/E ratio of 8.24 and a beta of 1.38. Mr. Cooper Group has a 52 week low of $41.74 and a 52 week high of $81.98. The stock has a 50 day moving average of $74.98 and a 200-day moving average of $66.48.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, April 24th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.11 by $0.17. The firm had revenue of $564.00 million for the quarter, compared to analyst estimates of $498.15 million. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%.

Hedge Funds Weigh In On Mr. Cooper Group

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Mr. Cooper Group by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock worth $496,608,000 after acquiring an additional 391,780 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Mr. Cooper Group by 1.5% during the fourth quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock worth $111,674,000 after purchasing an additional 25,351 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Mr. Cooper Group by 12.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,593,780 shares of the company’s stock worth $103,787,000 after purchasing an additional 182,014 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Mr. Cooper Group by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 768,848 shares of the company’s stock worth $50,067,000 after purchasing an additional 37,823 shares during the period. Finally, Norges Bank acquired a new stake in shares of Mr. Cooper Group during the fourth quarter worth $47,104,000. Institutional investors own 89.82% of the company’s stock.

Insider Transactions at Mr. Cooper Group

In related news, President Michael S. Weinbach bought 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the transaction, the president now directly owns 17,000 shares of the company’s stock, valued at $1,209,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mr. Cooper Group news, President Michael S. Weinbach acquired 17,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the transaction, the president now owns 17,000 shares in the company, valued at approximately $1,209,720. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $71.61, for a total value of $1,790,250.00. Following the completion of the transaction, the chief executive officer now owns 366,051 shares of the company’s stock, valued at approximately $26,212,912.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,000 shares of company stock valued at $5,431,500. 2.33% of the stock is owned by corporate insiders.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.