Wedbush Forecasts Increased Earnings for Mr. Cooper Group

Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) - Equities research analysts at Wedbush lifted their FY2024 EPS estimates for Mr. Cooper Group in a report released on Thursday, October 24th. Wedbush analyst J. Mccanless now anticipates that the company will earn $10.30 per share for the year, up from their prior estimate 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.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.54 by $0.30. The company had revenue of $616.00 million for 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 firm's revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.79 EPS.

Other research analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a research 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 objective on the stock. in a research report on Monday, July 22nd. Compass Point boosted their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a research 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 research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Mr. Cooper Group presently has a consensus rating of "Moderate Buy" and an average price target of $98.00.

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock traded down $0.36 on Friday, reaching $88.52. 577,842 shares of the company's stock were exchanged, compared to its average volume of 445,414. The company has a market capitalization of $5.73 billion, a P/E ratio of 9.27 and a beta of 1.40. Mr. Cooper Group has a 52 week low of $54.07 and a 52 week high of $97.35. The firm's 50-day moving average is $91.98 and its two-hundred day moving average is $85.97.

Institutional Trading of Mr. Cooper Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in Mr. Cooper Group by 77.1% during the second quarter. Blue Trust Inc. now owns 333 shares of the company's stock worth $26,000 after buying an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Mr. Cooper Group by 8,275.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company's stock valued at $27,000 after purchasing an additional 331 shares during the last quarter. Quarry LP purchased a new stake in shares of Mr. Cooper Group in the second quarter valued at about $29,000. Financial Management Professionals Inc. bought a new position in shares of Mr. Cooper Group during the third quarter valued at about $30,000. Finally, CWM LLC boosted its holdings in Mr. Cooper Group by 34.5% during the second quarter. CWM LLC now owns 601 shares of the company's stock worth $49,000 after purchasing an additional 154 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Company Profile

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.