Mr. Cooper Group (NASDAQ:COOP) Stock Rating Reaffirmed by Wedbush

Mr. Cooper Group (NASDAQ:COOP)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a note issued to investors on Thursday, Benzinga reports. They presently have a $115.00 price target on the stock. Wedbush’s target price points to a potential upside of 29.91% from the stock’s current price. Wedbush also issued estimates for Mr. Cooper Group’s Q4 2024 earnings at $2.66 EPS, FY2024 earnings at $10.30 EPS, Q1 2025 earnings at $3.17 EPS, Q3 2025 earnings at $3.38 EPS and Q4 2025 earnings at $3.59 EPS.

Several other research analysts have also weighed in on COOP. Barclays increased their target price 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 lowered Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research note on Monday, July 22nd. Finally, Piper Sandler lifted their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Mr. Cooper Group currently has an average rating of “Moderate Buy” and an average price target of $98.00.

Mr. Cooper Group Price Performance

COOP opened at $88.52 on Thursday. Mr. Cooper Group has a 12 month low of $54.07 and a 12 month high of $97.35. The business has a 50-day moving average of $91.98 and a two-hundred day moving average of $85.97. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 9.27 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. The firm had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. Mr. Cooper Group’s revenue was up 32.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 earnings per share. Equities research analysts anticipate that Mr. Cooper Group will post 9.98 earnings per share for the current year.

Institutional Trading of Mr. Cooper Group

Several large investors have recently added to or reduced their stakes in COOP. LSV Asset Management boosted its position in shares of Mr. Cooper Group by 249.2% in the second 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 during the period. Price T Rowe Associates Inc. MD lifted its position in Mr. Cooper Group by 984.4% during the 1st 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. acquired a new position in Mr. Cooper Group during the 2nd quarter worth approximately $21,609,000. Cercano Management LLC boosted 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 worth $39,179,000 after acquiring an additional 141,332 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Mr. Cooper Group by 11.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after acquiring an additional 125,055 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Company Profile

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.