Q2 2024 Earnings Forecast for Mr. Cooper Group Inc. (NASDAQ:COOP) Issued By Wedbush

Mr. Cooper Group Inc. (NASDAQ:COOP) – Equities research analysts at Wedbush increased their Q2 2024 EPS estimates for Mr. Cooper Group in a report released on Thursday, April 25th. Wedbush analyst J. Mccanless now expects that the company will post earnings of $2.44 per share for the quarter, up from their prior forecast of $2.16. Wedbush has a “Outperform” rating and a $100.00 price objective on the stock. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $9.48 per share. Wedbush also issued estimates for Mr. Cooper Group’s FY2024 earnings at $9.45 EPS.

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

COOP has been the topic of a number of other research reports. Jefferies Financial Group boosted their price objective on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Barclays boosted their target price on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 target price (up from $86.00) on shares of Mr. Cooper Group in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.22.

Mr. Cooper Group Stock Up 0.6 %

COOP stock opened at $79.24 on Monday. Mr. Cooper Group has a twelve month low of $41.74 and a twelve month high of $81.98. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 8.30 and a beta of 1.38. The firm’s fifty day simple moving average is $75.21 and its two-hundred day simple moving average is $66.98.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds have recently modified their holdings of COOP. USA Financial Formulas acquired a new position in shares of Mr. Cooper Group during the fourth quarter valued at about $25,000. GAMMA Investing LLC acquired a new position in shares of Mr. Cooper Group during the fourth quarter valued at about $61,000. Quest Partners LLC acquired a new position in shares of Mr. Cooper Group during the fourth quarter valued at about $61,000. Centaurus Financial Inc. acquired a new position in shares of Mr. Cooper Group during the fourth quarter valued at about $101,000. Finally, Headlands Technologies LLC increased its holdings in shares of Mr. Cooper Group by 637.1% during the fourth quarter. Headlands Technologies LLC now owns 1,651 shares of the company’s stock valued at $108,000 after acquiring an additional 1,427 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

Insider Buying and Selling at Mr. Cooper Group

In other news, President Michael S. Weinbach purchased 17,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost 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 approximately $1,209,720. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President Michael S. Weinbach acquired 17,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the acquisition, the president now directly owns 17,000 shares in the company, valued at approximately $1,209,720. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $71.61, for a total transaction of $1,790,250.00. Following the transaction, the chief executive officer now owns 366,051 shares in the company, valued at approximately $26,212,912.11. The disclosure for this sale can be found here. Insiders own 2.33% of the company’s stock.

About Mr. Cooper Group

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.