Mr. Cooper Group (NASDAQ:COOP) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Mr. Cooper Group (NASDAQ:COOP) posted its quarterly earnings data on Wednesday. The company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.08, Zacks reports. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%.

Mr. Cooper Group Trading Down 1.3 %

Shares of NASDAQ:COOP traded down $1.40 on Wednesday, hitting $105.93. The company had a trading volume of 409,577 shares, compared to its average volume of 484,017. Mr. Cooper Group has a 1-year low of $70.01 and a 1-year high of $108.56. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 0.31 and a beta of 1.43. The stock has a 50 day moving average price of $98.81 and a 200 day moving average price of $94.70.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. JMP Securities assumed coverage on shares of Mr. Cooper Group in a research note on Tuesday, January 14th. They set an “outperform” rating and a $115.00 target price for the company. Compass Point upped their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.13.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total value of $2,834,700.00. Following the completion of the transaction, the chief executive officer now owns 758,821 shares of the company’s stock, valued at approximately $71,700,996.29. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.33% of the stock is currently owned by corporate insiders.

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.