Mr. Cooper Group Inc. (NASDAQ:COOP) Expected to Post Q1 2024 Earnings of $1.99 Per Share

Mr. Cooper Group Inc. (NASDAQ:COOPFree Report) – Research analysts at Wedbush raised their Q1 2024 earnings per share estimates for Mr. Cooper Group in a research report issued on Monday, February 12th. Wedbush analyst J. Mccanless now anticipates that the company will post earnings of $1.99 per share for the quarter, up from their previous estimate of $1.92. Wedbush currently has a “Outperform” rating and a $85.00 target price on the stock. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $8.46 per share. Wedbush also issued estimates for Mr. Cooper Group’s Q3 2024 earnings at $2.29 EPS, Q4 2024 earnings at $2.21 EPS and FY2024 earnings at $8.65 EPS.

Several other brokerages have also recently commented on COOP. Keefe, Bruyette & Woods upped their target price on Mr. Cooper Group from $81.00 to $83.00 and gave the company an “outperform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft started coverage on Mr. Cooper Group in a report on Wednesday, January 10th. They issued a “buy” rating and a $88.00 target price on the stock. Piper Sandler boosted their price target on Mr. Cooper Group from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. UBS Group started coverage on Mr. Cooper Group in a research note on Wednesday, December 6th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Barclays boosted their price target on Mr. Cooper Group from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $77.50.

Check Out Our Latest Stock Report on COOP

Mr. Cooper Group Price Performance

Shares of COOP stock opened at $73.44 on Tuesday. The business’s 50 day simple moving average is $65.28 and its 200 day simple moving average is $59.46. Mr. Cooper Group has a one year low of $37.54 and a one year high of $74.90. The stock has a market capitalization of $4.84 billion, a PE ratio of 10.01 and a beta of 1.36.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.62, for a total transaction of $1,515,500.00. Following the transaction, the chief executive officer now directly owns 441,051 shares of the company’s stock, valued at $26,736,511.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC grew its holdings in Mr. Cooper Group by 6.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,908 shares of the company’s stock worth $299,000 after buying an additional 370 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Mr. Cooper Group by 94.9% during 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Mr. Cooper Group by 26.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 6,611 shares of the company’s stock worth $335,000 after buying an additional 1,372 shares in the last quarter. Xponance Inc. grew its holdings in Mr. Cooper Group by 47.1% during the third quarter. Xponance Inc. now owns 5,837 shares of the company’s stock worth $313,000 after buying an additional 1,868 shares in the last quarter. Finally, Strs Ohio grew its holdings in Mr. Cooper Group by 32.1% during the second quarter. Strs Ohio now owns 3,700 shares of the company’s stock worth $187,000 after buying an additional 900 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

About Mr. Cooper Group

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Mr. Cooper Group Inc engages in non-banking services for mortgage loans 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.

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