Jefferies Financial Group Equities Analysts Decrease Earnings Estimates for Mr. Cooper Group Inc. (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOPGet Rating) – Stock analysts at Jefferies Financial Group decreased their Q1 2023 earnings per share (EPS) estimates for Mr. Cooper Group in a research note issued on Friday, November 18th. Jefferies Financial Group analyst K. Joseph now expects that the company will earn $1.00 per share for the quarter, down from their prior forecast of $1.10. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $2.40 per share. Jefferies Financial Group also issued estimates for Mr. Cooper Group’s Q2 2023 earnings at $1.09 EPS, Q3 2023 earnings at $1.18 EPS, Q1 2024 earnings at $1.25 EPS, Q2 2024 earnings at $1.30 EPS and Q3 2024 earnings at $1.33 EPS.

Several other analysts have also recently commented on COOP. Barclays decreased their target price on Mr. Cooper Group from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, October 17th. Wedbush decreased their target price on Mr. Cooper Group from $60.00 to $55.00 in a report on Thursday, October 27th. Piper Sandler increased their target price on Mr. Cooper Group from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 10th. Finally, Compass Point cut their price target on Mr. Cooper Group to $64.00 in a research note on Tuesday, November 1st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Mr. Cooper Group has an average rating of “Moderate Buy” and an average target price of $55.60.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $43.25 on Monday. The stock’s fifty day moving average is $42.23 and its 200-day moving average is $41.97. The stock has a market capitalization of $3.05 billion, a PE ratio of 3.05 and a beta of 1.42. Mr. Cooper Group has a 52 week low of $35.81 and a 52 week high of $52.34.

Insider Activity

In other news, CEO Jesse K. Bray sold 21,000 shares of the company’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $40.89, for a total transaction of $858,690.00. Following the transaction, the chief executive officer now owns 760,291 shares of the company’s stock, valued at $31,088,298.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds have recently added to or reduced their stakes in COOP. Wellington Management Group LLP lifted its stake in Mr. Cooper Group by 12,377.0% in the first quarter. Wellington Management Group LLP now owns 1,841,226 shares of the company’s stock valued at $84,089,000 after buying an additional 1,826,469 shares during the period. Vanguard Group Inc. lifted its stake in Mr. Cooper Group by 25.0% in the first quarter. Vanguard Group Inc. now owns 8,125,291 shares of the company’s stock valued at $371,082,000 after buying an additional 1,622,582 shares during the period. HG Vora Capital Management LLC lifted its stake in Mr. Cooper Group by 80.6% in the first quarter. HG Vora Capital Management LLC now owns 3,250,000 shares of the company’s stock valued at $148,428,000 after buying an additional 1,450,000 shares during the period. Millennium Management LLC lifted its stake in Mr. Cooper Group by 639.1% in the second quarter. Millennium Management LLC now owns 1,127,666 shares of the company’s stock valued at $41,430,000 after buying an additional 975,097 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Mr. Cooper Group by 168.6% in the first quarter. Goldman Sachs Group Inc. now owns 792,565 shares of the company’s stock valued at $36,197,000 after buying an additional 497,500 shares during the period. Institutional investors and hedge funds own 86.68% of the company’s stock.

About Mr. Cooper Group

(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)

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