Q2 2024 EPS Estimates for Mr. Cooper Group Inc. Increased by Analyst (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) – Analysts at Wedbush increased their Q2 2024 EPS estimates for shares of Mr. Cooper Group in a research report issued on Thursday, April 25th. Wedbush analyst J. Mccanless now forecasts that the company will post earnings per share of $2.44 for the quarter, up from their previous forecast of $2.16. 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 $9.48 per share. Wedbush also issued estimates for Mr. Cooper Group’s FY2024 earnings at $9.45 EPS.

Mr. Cooper Group (NASDAQ:COOP) last posted 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 company had revenue of $564.00 million for the quarter, compared to the consensus estimate of $498.15 million. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%.

COOP has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group boosted their price target on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $92.00 price target (up previously from $86.00) on shares of Mr. Cooper Group in a report on Thursday, April 25th. Finally, Barclays boosted their price target on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and an average target price of $82.22.

Mr. Cooper Group Stock Performance

NASDAQ COOP opened at $77.20 on Monday. Mr. Cooper Group has a one year low of $41.74 and a one year high of $81.98. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 8.08 and a beta of 1.38. The company’s 50-day simple moving average is $75.21 and its two-hundred day simple moving average is $66.98.

Institutional Trading of Mr. Cooper Group

Several large investors have recently made changes to their positions in COOP. Norges Bank purchased a new stake in shares of Mr. Cooper Group in the 4th quarter valued at $47,104,000. Assenagon Asset Management S.A. boosted its holdings in shares of Mr. Cooper Group by 94.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,411,766 shares of the company’s stock valued at $75,614,000 after acquiring an additional 687,321 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Mr. Cooper Group by 198.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock valued at $43,209,000 after acquiring an additional 441,282 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Mr. Cooper Group by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock valued at $496,608,000 after acquiring an additional 391,780 shares during the last quarter. Finally, Cercano Management LLC purchased a new stake in shares of Mr. Cooper Group in the 4th quarter valued at $23,527,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, President Michael S. Weinbach acquired 17,000 shares of Mr. Cooper Group stock in a transaction that occurred 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 purchase, the president now directly owns 17,000 shares in the company, valued at approximately $1,209,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Michael S. Weinbach bought 17,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the transaction, the president now owns 17,000 shares in the company, valued at $1,209,720. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jesse K. Bray sold 25,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 366,051 shares in the company, valued at approximately $26,212,912.11. The disclosure for this sale can be found here. Insiders sold a total of 75,000 shares of company stock worth $5,712,250 in the last 90 days. 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.