Mr. Cooper Group Inc. (NASDAQ:COOP – Free Report) – Investment analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for shares of Mr. Cooper Group in a report released on Thursday, October 24th. Wedbush analyst J. Mccanless now forecasts that the company will post earnings of $10.30 per share for the year, up from their prior forecast of $10.00. Wedbush has a “Outperform” rating and a $115.00 price objective on the stock. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $9.98 per share. Wedbush also issued estimates for Mr. Cooper Group’s Q4 2024 earnings at $2.66 EPS, Q1 2025 earnings at $3.17 EPS, Q3 2025 earnings at $3.38 EPS and Q4 2025 earnings at $3.59 EPS.
Several other research analysts also recently weighed in on COOP. Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research note on Monday, July 22nd. Barclays boosted their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Compass Point boosted their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Piper Sandler boosted their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Mr. Cooper Group presently has an average rating of “Moderate Buy” and a consensus price target of $98.00.
Mr. Cooper Group Trading Down 0.4 %
COOP opened at $88.52 on Friday. Mr. Cooper Group has a 12 month low of $54.07 and a 12 month high of $97.35. The stock has a fifty day moving average price of $91.98 and a 200-day moving average price of $85.97. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 9.27 and a beta of 1.40.
Mr. Cooper Group (NASDAQ:COOP – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. The business had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. Mr. Cooper Group’s revenue was up 32.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.79 EPS.
Hedge Funds Weigh In On Mr. Cooper Group
Institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Mr. Cooper Group by 984.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock valued at $30,476,000 after buying an additional 354,905 shares during the period. 1832 Asset Management L.P. acquired a new position in Mr. Cooper Group in the 1st quarter worth about $5,301,000. Sei Investments Co. raised its holdings in Mr. Cooper Group by 68.2% in the 1st quarter. Sei Investments Co. now owns 36,139 shares of the company’s stock worth $2,817,000 after purchasing an additional 14,652 shares during the period. Penbrook Management LLC acquired a new position in Mr. Cooper Group in the 1st quarter worth about $949,000. Finally, Waterfall Asset Management LLC acquired a new position in Mr. Cooper Group in the 2nd quarter worth about $809,000. Institutional investors and hedge funds own 89.82% of the company’s stock.
About Mr. Cooper Group
Mr. Cooper Group Inc, together with its subsidiaries, operates as a non-bank servicer of residential mortgage loans in the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing borrower payments, investor reporting, customer service, modifying loans, performing collections, foreclosures, and the sale of real estate owned.
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