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

Mr. Cooper Group (NASDAQ:COOP) released its quarterly earnings data on Wednesday. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.30, Yahoo Finance reports. The company 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 for the quarter was up 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.79 earnings per share.

Mr. Cooper Group Stock Performance

NASDAQ:COOP traded down $0.36 during mid-day trading on Friday, reaching $88.52. The stock had a trading volume of 577,832 shares, compared to its average volume of 445,414. The business has a 50 day simple moving average of $92.01 and a 200 day simple moving average of $85.89. Mr. Cooper Group has a twelve month low of $54.07 and a twelve month high of $97.35. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 9.31 and a beta of 1.40.

Analyst Upgrades and Downgrades

COOP has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday. Compass Point increased their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods lowered shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a research note on Monday, July 22nd. Barclays upped their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Piper Sandler raised their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.