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

Mr. Cooper Group (NASDAQ:COOP) announced its 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. The company had revenue of $616.00 million during the quarter, compared to analyst estimates 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 period last year, the company posted $2.79 earnings per share.

Mr. Cooper Group Price Performance

Shares of COOP traded down $0.36 during mid-day trading on Friday, hitting $88.52. 564,405 shares of the company’s stock were exchanged, compared to its average volume of 445,349. The company has a 50-day simple moving average of $92.01 and a 200 day simple moving average of $85.89. The company has a market cap of $5.73 billion, a PE ratio of 9.31 and a beta of 1.40. 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 equities research analysts have recently weighed in on COOP shares. Barclays boosted 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. Piper Sandler upped their target price on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Wedbush reiterated an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday. Compass Point raised their price objective 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. Finally, Keefe, Bruyette & Woods lowered shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and a consensus 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.