Brokers Issue Forecasts for Mr. Cooper Group Inc.’s Q3 2024 Earnings (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) – Investment analysts at Wedbush upped their Q3 2024 EPS estimates for shares of Mr. Cooper Group in a note issued to investors on Thursday, October 10th. Wedbush analyst J. Mccanless now expects that the company will post earnings of $2.55 per share for the quarter, up from their previous estimate of $2.49. Wedbush 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 $9.97 per share. Wedbush also issued estimates for Mr. Cooper Group’s FY2024 earnings at $10.00 EPS, Q2 2025 earnings at $3.36 EPS, Q3 2025 earnings at $3.28 EPS, Q4 2025 earnings at $3.48 EPS, FY2025 earnings at $13.45 EPS and FY2026 earnings at $14.00 EPS.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.19. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The firm had revenue of $583.00 million for the quarter, compared to analysts’ expectations of $552.09 million. During the same period in the previous year, the company posted $1.66 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year.

Several other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods cut shares of 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. Piper Sandler boosted their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Barclays boosted 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and an average price target of $96.29.

Mr. Cooper Group Stock Up 0.4 %

Mr. Cooper Group stock opened at $95.19 on Monday. The company’s fifty day simple moving average is $90.67 and its 200-day simple moving average is $84.97. Mr. Cooper Group has a 12 month low of $52.50 and a 12 month high of $96.00. The stock has a market cap of $6.16 billion, a P/E ratio of 9.97 and a beta of 1.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted 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 last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Mr. Cooper Group by 8,275.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after buying an additional 331 shares during the last quarter. Quarry LP acquired a new position in shares of Mr. Cooper Group during the second quarter valued at about $29,000. CWM LLC raised its position in shares of Mr. Cooper Group by 34.5% during the second quarter. CWM LLC now owns 601 shares of the company’s stock valued at $49,000 after buying an additional 154 shares during the last quarter. Finally, Perkins Coie Trust Co acquired a new position in shares of Mr. Cooper Group during the second quarter valued at about $81,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.