Wedbush Forecasts Increased Earnings for Mr. Cooper Group

Mr. Cooper Group Inc. (NASDAQ:COOP) – Wedbush lifted their FY2024 earnings estimates for Mr. Cooper Group in a research report issued to clients and investors on Thursday, October 24th. Wedbush analyst J. Mccanless now expects that the company will earn $10.30 per share for the year, up from their previous forecast of $10.00. Wedbush has a “Outperform” rating and a $115.00 price target 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 announced its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.30. The business had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The business’s revenue was up 32.8% on a year-over-year basis. During the same quarter last year, the business posted $2.79 EPS.

A number of other research firms have also recently weighed in on COOP. Barclays increased their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. 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. Compass Point increased their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Piper Sandler raised their target price on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Mr. Cooper Group Stock Performance

COOP stock opened at $88.52 on Friday. Mr. Cooper Group has a 1 year low of $54.07 and a 1 year high of $97.35. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 9.27 and a beta of 1.40. The stock’s fifty day moving average is $91.98 and its two-hundred day moving average is $86.02.

Institutional Investors Weigh In On Mr. Cooper Group

A number of institutional investors have recently added to or reduced their stakes in COOP. LSV Asset Management raised its stake in shares of Mr. Cooper Group by 249.2% in the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after buying an additional 451,926 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Mr. Cooper Group by 984.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock worth $30,476,000 after acquiring an additional 354,905 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in Mr. Cooper Group in the second quarter worth about $21,609,000. Cercano Management LLC lifted its holdings in Mr. Cooper Group by 39.1% in the 1st quarter. Cercano Management LLC now owns 502,618 shares of the company’s stock valued at $39,179,000 after acquiring an additional 141,332 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Mr. Cooper Group by 11.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after purchasing an additional 125,055 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

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.