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

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

Mr. Cooper Group Price Performance

NASDAQ:COOP traded down $0.36 on Friday, reaching $88.52. 577,842 shares of the company’s stock were exchanged, compared to its average volume of 445,414. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 9.27 and a beta of 1.40. The stock has a fifty day simple moving average of $92.01 and a 200-day simple moving average of $85.89. Mr. Cooper Group has a 52 week low of $54.07 and a 52 week high of $97.35.

Analysts Set New Price Targets

A number of brokerages recently commented on COOP. Keefe, Bruyette & Woods downgraded 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 report on Monday, July 22nd. Piper Sandler lifted their target price on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays increased their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday. Finally, Compass Point boosted 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 note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

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.