Mr. Cooper Group Inc. (NASDAQ:COOP) Forecasted to Earn Q3 2024 Earnings of $2.47 Per Share

Mr. Cooper Group Inc. (NASDAQ:COOP) – Analysts at Wedbush lifted their Q3 2024 earnings per share estimates for shares of Mr. Cooper Group in a research report 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 previous forecast 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.

Several other brokerages have also recently issued reports on COOP. Deutsche Bank Aktiengesellschaft lifted their price target on Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $92.00 price target (up from $86.00) on shares of Mr. Cooper Group in a research report on Thursday. Jefferies Financial Group lifted their price target on Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Finally, Barclays lifted their target price on Mr. Cooper Group from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.22.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $78.76 on Friday. Mr. Cooper Group has a 1 year low of $41.74 and a 1 year high of $81.98. The stock has a market cap of $5.14 billion, a PE ratio of 8.25 and a beta of 1.38. The business’s fifty day moving average is $74.91 and its 200-day moving average is $66.39.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.17. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. The company had revenue of $564.00 million for the quarter, compared to analysts’ expectations of $498.15 million.

Institutional Trading of Mr. Cooper Group

A number of institutional investors have recently bought and sold shares of COOP. Norges Bank acquired a new stake in Mr. Cooper Group during the fourth quarter valued at $47,104,000. Assenagon Asset Management S.A. lifted its position in shares of Mr. Cooper Group by 94.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,411,766 shares of the company’s stock worth $75,614,000 after buying an additional 687,321 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Mr. Cooper Group by 198.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock worth $43,209,000 after buying an additional 441,282 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Mr. Cooper Group by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock worth $496,608,000 after buying an additional 391,780 shares during the last quarter. Finally, Cercano Management LLC acquired a new stake in shares of Mr. Cooper Group in the fourth quarter worth about $23,527,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the completion of the sale, the chief executive officer now owns 391,051 shares of the company’s stock, valued at $26,419,405.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, President Michael S. Weinbach acquired 17,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the completion of the transaction, the president now owns 17,000 shares in the company, valued at $1,209,720. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on Monday, January 29th. The shares were sold at an average price of $67.56, for a total value of $1,689,000.00. Following the sale, the chief executive officer now directly owns 391,051 shares of the company’s stock, valued at approximately $26,419,405.56. The disclosure for this sale can be found here. Insiders sold a total of 75,000 shares of company stock valued at $5,431,500 over the last quarter. Company 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.