Mr. Cooper Group (NASDAQ:COOP) Posts Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Mr. Cooper Group (NASDAQ:COOP) posted its quarterly earnings results on Wednesday. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.30, Yahoo Finance reports. The business had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $548.09 million. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The firm’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.79 earnings per share.

Mr. Cooper Group Stock Down 0.4 %

Mr. Cooper Group stock traded down $0.36 during mid-day trading on Friday, hitting $88.52. 577,841 shares of the company’s stock were exchanged, compared to its average volume of 445,414. The company’s 50 day simple moving average is $92.01 and its 200-day simple moving average is $85.89. The firm has a market capitalization of $5.73 billion, a P/E ratio of 9.31 and a beta of 1.40. Mr. Cooper Group has a fifty-two week low of $54.07 and a fifty-two week high of $97.35.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COOP. Piper Sandler lifted their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Compass Point upped their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday. Barclays raised their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a report on Monday, July 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday. 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.com, Mr. Cooper Group currently has an average rating of “Moderate Buy” and an average target price of $98.00.

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.