Brokerages expect Mr. Cooper Group Inc (NASDAQ:COOP) to announce $630.35 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Mr. Cooper Group’s earnings, with estimates ranging from $589.70 million to $671.00 million. Mr. Cooper Group reported sales of $618.00 million in the same quarter last year, which indicates a positive year over year growth rate of 2%. The business is scheduled to issue its next earnings results on Thursday, October 29th.
On average, analysts expect that Mr. Cooper Group will report full-year sales of $2.03 billion for the current fiscal year, with estimates ranging from $2.00 billion to $2.05 billion. For the next year, analysts expect that the business will post sales of $2.63 billion, with estimates ranging from $2.53 billion to $2.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Mr. Cooper Group.
Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Thursday, April 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.03. The business had revenue of $278.00 million during the quarter, compared to analyst estimates of $418.35 million. Mr. Cooper Group had a net margin of 3.26% and a return on equity of 28.82%.
A number of research firms recently commented on COOP. BidaskClub upgraded Mr. Cooper Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Piper Sandler lifted their price objective on Mr. Cooper Group from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 2nd. KeyCorp lifted their price objective on Mr. Cooper Group from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Zacks Investment Research upgraded Mr. Cooper Group from a “sell” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, July 1st. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Mr. Cooper Group in a research report on Tuesday, July 28th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $16.43.
Shares of NASDAQ:COOP traded up $0.35 during midday trading on Tuesday, hitting $16.33. 1,815,256 shares of the stock were exchanged, compared to its average volume of 728,351. The stock has a market cap of $1.50 billion, a P/E ratio of 22.37 and a beta of 1.26. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.39. Mr. Cooper Group has a twelve month low of $4.31 and a twelve month high of $16.94. The company has a 50 day moving average price of $12.66 and a 200-day moving average price of $11.03.
A number of institutional investors and hedge funds have recently bought and sold shares of COOP. JPMorgan Chase & Co. grew its holdings in Mr. Cooper Group by 473.5% in the 1st quarter. JPMorgan Chase & Co. now owns 614,350 shares of the company’s stock valued at $4,503,000 after buying an additional 507,223 shares during the period. OCO Capital Partners L.P. lifted its stake in shares of Mr. Cooper Group by 16.5% in the 1st quarter. OCO Capital Partners L.P. now owns 2,900,000 shares of the company’s stock valued at $21,257,000 after purchasing an additional 410,000 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Mr. Cooper Group in the 2nd quarter valued at about $2,438,000. Nuveen Asset Management LLC lifted its stake in shares of Mr. Cooper Group by 15.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,189,093 shares of the company’s stock valued at $14,876,000 after purchasing an additional 159,000 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Mr. Cooper Group by 588.8% in the 1st quarter. Invesco Ltd. now owns 176,272 shares of the company’s stock valued at $1,292,000 after purchasing an additional 150,681 shares in the last quarter. Institutional investors own 82.95% of the company’s stock.
Mr. Cooper Group Company Profile
Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related principally to single-family residences in the United States. The company operates through three segments: Servicing, Originations, and Xome. The Servicing segment performs activities for originated and purchased loans, as well as operates as a subservicer for various clients that own the underlying servicing rights.
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