Jefferies Financial Group Weighs in on Mr. Cooper Group Inc.’s Q2 2023 Earnings (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOPGet Rating) – Equities researchers at Jefferies Financial Group cut their Q2 2023 EPS estimates for shares of Mr. Cooper Group in a research note issued to investors on Thursday, June 9th. Jefferies Financial Group analyst K. Joseph now forecasts that the company will earn $1.46 per share for the quarter, down from their prior forecast of $1.55.

Several other research analysts also recently commented on COOP. Piper Sandler lifted their target price on shares of Mr. Cooper Group from $60.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, February 14th. Zacks Investment Research downgraded shares of Mr. Cooper Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 3rd. Credit Suisse Group lifted their target price on shares of Mr. Cooper Group from $52.00 to $59.00 and gave the stock an “outperform” rating in a research note on Monday, February 14th. Barclays decreased their target price on shares of Mr. Cooper Group from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 26th. Finally, Wedbush boosted their price objective on shares of Mr. Cooper Group from $50.00 to $60.00 in a research report on Monday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Mr. Cooper Group presently has a consensus rating of “Hold” and a consensus price target of $56.40.

Shares of COOP opened at $43.67 on Friday. Mr. Cooper Group has a fifty-two week low of $31.79 and a fifty-two week high of $52.34. The firm has a 50 day moving average price of $43.59 and a 200-day moving average price of $43.98. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 2.33 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOPGet Rating) last announced its earnings results on Thursday, April 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.19. The business had revenue of $625.00 million during the quarter, compared to analyst estimates of $591.14 million. Mr. Cooper Group had a net margin of 48.79% and a return on equity of 16.11%. Mr. Cooper Group’s revenue for the quarter was down 50.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.87 earnings per share.

In related news, CEO Jesse K. Bray sold 46,000 shares of Mr. Cooper Group stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $42.45, for a total transaction of $1,952,700.00. Following the sale, the chief executive officer now directly owns 1,048,915 shares in the company, valued at $44,526,441.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.59% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. James Investment Research Inc. bought a new stake in Mr. Cooper Group in the first quarter worth $26,000. Federated Hermes Inc. boosted its holdings in Mr. Cooper Group by 91.5% in the first quarter. Federated Hermes Inc. now owns 879 shares of the company’s stock worth $40,000 after acquiring an additional 420 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Mr. Cooper Group in the first quarter worth $65,000. Salem Investment Counselors Inc. bought a new stake in Mr. Cooper Group in the fourth quarter worth $83,000. Finally, Maverick Capital Ltd. bought a new stake in Mr. Cooper Group in the fourth quarter worth $132,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Company Profile (Get Rating)

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in the United States. The company operates through two segments: Servicing and Originations. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.

Further Reading

Earnings History and Estimates for Mr. Cooper Group (NASDAQ:COOP)

Want More Great Investing Ideas?

Receive News & Ratings for Mr. Cooper Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mr. Cooper Group and related companies with MarketBeat.com's FREE daily email newsletter.