Wedbush Analysts Lift Earnings Estimates for Mr. Cooper Group Inc. (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) – Investment analysts at Wedbush boosted their Q3 2024 earnings estimates for Mr. Cooper Group in a research note issued on Thursday, April 25th. Wedbush analyst J. Mccanless now anticipates that the company will post earnings per share of $2.47 for the quarter, up from their prior estimate of $2.29. 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 $9.01 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 announced its quarterly earnings data on Wednesday, April 24th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.17. The company had revenue of $564.00 million during 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%.

Several other equities analysts have also commented on COOP. Jefferies Financial Group raised their target price 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 research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays upped their price objective on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.22.

Mr. Cooper Group Stock Down 0.0 %

Shares of Mr. Cooper Group stock opened at $78.73 on Friday. Mr. Cooper Group has a twelve month low of $41.74 and a twelve month high of $81.98. The company has a 50-day simple moving average of $74.98 and a two-hundred day simple moving average of $66.48. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 8.24 and a beta of 1.38.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently modified their holdings of COOP. SG Americas Securities LLC purchased a new position in shares of Mr. Cooper Group during the third quarter valued at about $198,000. Exchange Traded Concepts LLC purchased a new position in shares of Mr. Cooper Group during the third quarter valued at about $667,000. Denali Advisors LLC purchased a new position in shares of Mr. Cooper Group during the third quarter valued at about $933,000. Xponance Inc. increased its position in shares of Mr. Cooper Group by 47.1% during the third quarter. Xponance Inc. now owns 5,837 shares of the company’s stock valued at $313,000 after buying an additional 1,868 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Mr. Cooper Group by 22.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 23,314 shares of the company’s stock valued at $1,249,000 after buying an additional 4,211 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $78.09, for a total value of $1,952,250.00. Following the transaction, the chief executive officer now owns 334,631 shares in the company, valued at approximately $26,131,334.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, President Michael S. Weinbach acquired 17,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the transaction, the president now owns 17,000 shares of the company’s stock, valued at $1,209,720. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jesse K. Bray sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $78.09, for a total transaction of $1,952,250.00. Following the completion of the transaction, the chief executive officer now owns 334,631 shares in the company, valued at approximately $26,131,334.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,000 shares of company stock valued at $5,431,500. Insiders own 2.33% of the company’s stock.

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.