Mr. Cooper Group Inc. (NASDAQ:COOP) Forecasted to Earn Q3 2024 Earnings of $2.47 Per Share

Mr. Cooper Group Inc. (NASDAQ:COOP) – Investment analysts at Wedbush raised their Q3 2024 earnings per share estimates for shares of Mr. Cooper Group in a report issued on Thursday, April 25th. Wedbush analyst J. Mccanless now forecasts that the company will post earnings per share of $2.47 for the quarter, up from their previous estimate of $2.29. Wedbush has a “Outperform” rating and a $100.00 price objective 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.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.17. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. The business had revenue of $564.00 million for the quarter, compared to analysts’ expectations of $498.15 million.

COOP has been the topic of several other reports. Jefferies Financial Group raised their price objective on Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $92.00 target price (up from $86.00) on shares of Mr. Cooper Group in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price 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 lifted their target price 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.22.

Mr. Cooper Group Trading Down 3.6 %

Shares of NASDAQ:COOP opened at $78.76 on Friday. The stock’s fifty day simple moving average is $74.91 and its two-hundred day simple moving average is $66.39. Mr. Cooper Group has a 1-year low of $41.74 and a 1-year high of $81.98. The stock has a market cap of $5.14 billion, a PE ratio of 8.25 and a beta of 1.38.

Insider Buying and Selling

In other news, President Michael S. Weinbach acquired 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the acquisition, the president now owns 17,000 shares in the company, valued at approximately $1,209,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $71.61, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael S. Weinbach bought 17,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, February 13th. The shares were bought at an average cost of $71.16 per share, with a total value of $1,209,720.00. Following the acquisition, the president now directly owns 17,000 shares in the company, valued at $1,209,720. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 75,000 shares of company stock valued at $5,431,500. 2.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new position in Mr. Cooper Group during the 4th quarter valued at about $25,000. GAMMA Investing LLC purchased a new position in shares of Mr. Cooper Group during the fourth quarter worth about $61,000. Quest Partners LLC purchased a new position in shares of Mr. Cooper Group during the fourth quarter worth about $61,000. Centaurus Financial Inc. purchased a new position in shares of Mr. Cooper Group during the fourth quarter worth about $101,000. Finally, Headlands Technologies LLC grew its holdings in shares of Mr. Cooper Group by 637.1% during the fourth quarter. Headlands Technologies LLC now owns 1,651 shares of the company’s stock worth $108,000 after purchasing an additional 1,427 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

About Mr. Cooper Group

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.