Mr. Cooper Group (NASDAQ:COOP) Issues Earnings Results

Mr. Cooper Group (NASDAQ:COOP) released its quarterly earnings results on Wednesday. The company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.54 by $0.30, Yahoo Finance reports. 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%. The company’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period last year, the business posted $2.79 earnings per share.

Mr. Cooper Group Price Performance

Shares of COOP traded down $0.36 during mid-day trading on Friday, reaching $88.52. The company’s stock had a trading volume of 577,832 shares, compared to its average volume of 445,414. The company’s 50 day moving average is $92.01 and its 200 day moving average is $85.89. The stock has a market cap of $5.73 billion, a PE ratio of 9.31 and a beta of 1.40. Mr. Cooper Group has a 12-month low of $54.07 and a 12-month high of $97.35.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on COOP shares. Barclays raised their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods cut shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research report on Monday, July 22nd. Compass Point increased their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush reiterated an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday. Finally, Piper Sandler upped their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mr. Cooper Group currently has an average rating of “Moderate Buy” and an average price target of $98.00.

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.