FY2023 Earnings Forecast for Mr. Cooper Group Inc. (NASDAQ:COOP) Issued By Wedbush

Mr. Cooper Group Inc. (NASDAQ:COOPFree Report) – Equities researchers at Wedbush reduced their FY2023 earnings per share (EPS) estimates for shares of Mr. Cooper Group in a research note issued on Tuesday, January 16th. Wedbush analyst J. Mccanless now forecasts that the company will post earnings per share of $6.96 for the year, down from their previous estimate of $7.35. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $7.31 per share. Wedbush also issued estimates for Mr. Cooper Group’s Q4 2023 earnings at $1.33 EPS.

Other analysts also recently issued research reports about the company. Barclays initiated coverage on Mr. Cooper Group in a research note on Wednesday, November 15th. They issued an “overweight” rating and a $74.00 price objective on the stock. UBS Group initiated coverage on Mr. Cooper Group in a research note on Wednesday, December 6th. They issued a “buy” rating and a $80.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on Mr. Cooper Group from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 13th. Piper Sandler lifted their price objective on Mr. Cooper Group from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Mr. Cooper Group in a research note on Wednesday, January 10th. They issued a “buy” rating and a $88.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $74.63.

Check Out Our Latest Analysis on Mr. Cooper Group

Mr. Cooper Group Price Performance

NASDAQ:COOP opened at $62.03 on Thursday. Mr. Cooper Group has a 1 year low of $37.54 and a 1 year high of $67.96. The stock’s 50 day simple moving average is $62.36 and its two-hundred day simple moving average is $57.61. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 9.31 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOPGet Free Report) last issued its earnings results on Wednesday, October 25th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $1.06. The company had revenue of $574.00 million for the quarter, compared to the consensus estimate of $428.03 million. Mr. Cooper Group had a return on equity of 10.91% and a net margin of 26.88%.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on Monday, October 30th. The stock was sold at an average price of $56.34, for a total transaction of $1,408,500.00. Following the completion of the sale, the chief executive officer now directly owns 466,051 shares in the company, valued at $26,257,313.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $56.34, for a total value of $1,408,500.00. Following the transaction, the chief executive officer now owns 466,051 shares of the company’s stock, valued at approximately $26,257,313.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shveta Mujumdar sold 1,800 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $56.88, for a total transaction of $102,384.00. Following the completion of the transaction, the director now directly owns 22,244 shares in the company, valued at approximately $1,265,238.72. The disclosure for this sale can be found here. Insiders have sold 51,800 shares of company stock valued at $3,026,384 in the last quarter. 3.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in COOP. Wellington Management Group LLP increased its stake in Mr. Cooper Group by 12,377.0% in the 1st quarter. Wellington Management Group LLP now owns 1,841,226 shares of the company’s stock worth $84,089,000 after buying an additional 1,826,469 shares during the period. Vanguard Group Inc. increased its stake in Mr. Cooper Group by 25.0% in the 1st quarter. Vanguard Group Inc. now owns 8,125,291 shares of the company’s stock worth $371,082,000 after buying an additional 1,622,582 shares during the period. Assenagon Asset Management S.A. increased its stake in Mr. Cooper Group by 94.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,411,766 shares of the company’s stock worth $75,614,000 after buying an additional 687,321 shares during the period. Morgan Stanley increased its stake in Mr. Cooper Group by 49.9% in the 3rd quarter. Morgan Stanley now owns 2,033,145 shares of the company’s stock worth $108,895,000 after buying an additional 676,483 shares during the period. Finally, Norges Bank purchased a new position in Mr. Cooper Group during the 4th quarter valued at about $23,950,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

About Mr. Cooper Group

(Get Free Report)

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through two segments: Servicing and Originations. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.

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