Research Analysts Offer Predictions for COOP FY2024 Earnings

Mr. Cooper Group Inc. (NASDAQ:COOP) – Analysts at Wedbush increased their FY2024 EPS estimates for shares of Mr. Cooper Group in a report released on Thursday, October 24th. Wedbush analyst J. Mccanless now expects that the company will post earnings of $10.30 per share for the year, up from their prior estimate of $10.00. Wedbush currently has a “Outperform” rating and a $115.00 price objective on the stock. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $9.98 per share. Wedbush also issued estimates for Mr. Cooper Group’s Q4 2024 earnings at $2.66 EPS, Q1 2025 earnings at $3.17 EPS, Q3 2025 earnings at $3.38 EPS and Q4 2025 earnings at $3.59 EPS.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The firm had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. During the same period in the prior year, the firm posted $2.79 earnings per share. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year.

Other equities research analysts also recently issued reports about the stock. Barclays upped their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler increased their target price on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Compass Point lifted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods cut Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and an average target price of $98.00.

Mr. Cooper Group Stock Up 1.7 %

Shares of Mr. Cooper Group stock opened at $88.88 on Friday. The business has a fifty day simple moving average of $92.01 and a 200-day simple moving average of $85.89. Mr. Cooper Group has a fifty-two week low of $52.73 and a fifty-two week high of $97.35. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 8.40 and a beta of 1.40.

Hedge Funds Weigh In On Mr. Cooper Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new stake in shares of Mr. Cooper Group in the third quarter worth $30,000. Blue Trust Inc. boosted its position in Mr. Cooper Group by 77.1% during the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after acquiring an additional 145 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Mr. Cooper Group by 8,275.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after acquiring an additional 331 shares in the last quarter. Quarry LP acquired a new position in shares of Mr. Cooper Group in the 2nd quarter valued at about $29,000. Finally, CWM LLC lifted its position in shares of Mr. Cooper Group by 34.5% in the second quarter. CWM LLC now owns 601 shares of the company’s stock worth $49,000 after purchasing an additional 154 shares in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

About Mr. Cooper Group

Mr. Cooper Group Inc, together with its subsidiaries, operates as a non-bank servicer of residential mortgage loans in the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing borrower payments, investor reporting, customer service, modifying loans, performing collections, foreclosures, and the sale of real estate owned.