Wedbush Equities Analysts Decrease Earnings Estimates for Mr. Cooper Group Inc. (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) – Equities research analysts at Wedbush cut their Q4 2022 EPS estimates for shares of Mr. Cooper Group in a report released on Friday, June 17th. Wedbush analyst H. Coffey now forecasts that the company will post earnings of $1.04 per share for the quarter, down from their previous estimate of $1.19. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $2.86 per share. Wedbush also issued estimates for Mr. Cooper Group’s FY2023 earnings at $5.65 EPS.

Other equities analysts also recently issued research reports about the stock. Barclays dropped their price target on shares of Mr. Cooper Group from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, May 26th. TheStreet raised shares of Mr. Cooper Group from a “c+” rating to a “b” rating in a research report on Wednesday, May 4th. Finally, BTIG Research initiated coverage on shares of Mr. Cooper Group in a research report on Wednesday, April 20th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $58.50.

NASDAQ:COOP opened at $37.72 on Monday. The company has a fifty day simple moving average of $43.14 and a two-hundred day simple moving average of $43.94. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 2.01 and a beta of 1.40. Mr. Cooper Group has a 52 week low of $31.79 and a 52 week high of $52.34. Mr. Cooper Group (NASDAQ:COOP – Get Rating) last posted its earnings results on Thursday, April 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.19. Mr. Cooper Group had a net margin of 48.79% and a return on equity of 16.11%. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $591.14 million. During the same quarter last year, the firm earned $2.87 EPS. The firm’s revenue for the quarter was down 50.7% on a year-over-year basis.

Institutional investors and hedge funds have recently made changes to their positions in the stock. James Investment Research Inc. acquired a new stake in shares of Mr. Cooper Group in the first quarter worth $26,000. Federated Hermes Inc. grew its holdings in Mr. Cooper Group by 91.5% during the 1st quarter. Federated Hermes Inc. now owns 879 shares of the company’s stock worth $40,000 after acquiring an additional 420 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Mr. Cooper Group during the 1st quarter worth $65,000. Salem Investment Counselors Inc. acquired a new position in Mr. Cooper Group during the 4th quarter worth $83,000. Finally, Maverick Capital Ltd. acquired a new position in Mr. Cooper Group during the 4th quarter worth $132,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Jesse K. Bray sold 46,000 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $42.45, for a total value of $1,952,700.00. Following the sale, the chief executive officer now directly owns 1,048,915 shares in the company, valued at $44,526,441.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.59% of the company’s stock.

Mr. Cooper Group Company Profile (Get Rating)

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in 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.