Wedbush Weighs in on Mr. Cooper Group Inc.’s Q3 2024 Earnings (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) – Equities researchers at Wedbush upped their Q3 2024 earnings estimates for Mr. Cooper Group in a report issued on Thursday, October 10th. Wedbush analyst J. Mccanless now forecasts that the company will post earnings per share of $2.55 for the quarter, up from their prior forecast of $2.49. Wedbush currently has a “Outperform” rating and a $115.00 price target on the stock. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $9.97 per share. Wedbush also issued estimates for Mr. Cooper Group’s FY2024 earnings at $10.00 EPS, Q2 2025 earnings at $3.36 EPS, Q3 2025 earnings at $3.28 EPS, Q4 2025 earnings at $3.48 EPS, FY2025 earnings at $13.45 EPS and FY2026 earnings at $14.00 EPS.

COOP has been the subject of a number of other reports. Barclays upped their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note 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 target price for the company. in a research note on Monday, July 22nd. Finally, Piper Sandler increased their target price 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 analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.29.

Mr. Cooper Group Price Performance

Shares of COOP opened at $95.93 on Monday. The company’s fifty day moving average price is $91.18 and its 200 day moving average price is $85.22. The company has a market capitalization of $6.21 billion, a PE ratio of 10.05 and a beta of 1.40. Mr. Cooper Group has a one year low of $52.50 and a one year high of $97.26.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.19. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The company had revenue of $583.00 million for the quarter, compared to analyst estimates of $552.09 million. During the same period in the prior year, the firm posted $1.66 EPS. The business’s revenue was up 3.4% compared to the same quarter last year.

Institutional Trading of Mr. Cooper Group

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Mr. Cooper Group by 77.1% in the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after buying an additional 145 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in 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 worth $27,000 after purchasing an additional 331 shares in the last quarter. Quarry LP bought a new position in Mr. Cooper Group during the second quarter worth $29,000. CWM LLC increased its position in Mr. Cooper Group by 34.5% in the 2nd quarter. CWM LLC now owns 601 shares of the company’s stock valued at $49,000 after buying an additional 154 shares in the last quarter. Finally, Perkins Coie Trust Co bought a new stake in shares of Mr. Cooper Group during the second quarter valued at approximately $81,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.