Mr. Cooper Group Inc. (NASDAQ:COOP) Expected to Post Quarterly Sales of $894.60 Million


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Wall Street brokerages forecast that Mr. Cooper Group Inc. (NASDAQ:COOP) will post $894.60 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Mr. Cooper Group’s earnings, with estimates ranging from $859.00 million to $959.60 million. Mr. Cooper Group posted sales of $278.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 221.8%. The company is scheduled to announce its next earnings report on Thursday, April 29th.

On average, analysts expect that Mr. Cooper Group will report full-year sales of $3.15 billion for the current financial year, with estimates ranging from $2.94 billion to $3.38 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.82 billion, with estimates ranging from $2.74 billion to $2.95 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Mr. Cooper Group.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Monday, February 22nd. The company reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.13). The company had revenue of $872.00 million during the quarter, compared to the consensus estimate of $851.91 million. Mr. Cooper Group had a net margin of 8.17% and a return on equity of 32.79%. The company’s revenue was down 8.5% compared to the same quarter last year.

Several analysts have issued reports on the stock. Credit Suisse Group upped their price target on shares of Mr. Cooper Group from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $38.00 price target (down previously from $39.00) on shares of Mr. Cooper Group in a report on Tuesday. Wedbush raised their price target on shares of Mr. Cooper Group from $34.00 to $43.00 in a research note on Thursday, March 4th. Piper Sandler increased their price objective on Mr. Cooper Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 26th. Finally, Barclays raised their price target on shares of Mr. Cooper Group from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, March 16th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $35.11.

In other Mr. Cooper Group news, major shareholder Wand Investors Corp Kkr sold 3,700,000 shares of the company’s stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $32.25, for a total value of $119,325,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.53% of the company’s stock.

Several large investors have recently added to or reduced their stakes in COOP. Inherent Group LP raised its holdings in Mr. Cooper Group by 165.5% during the 4th quarter. Inherent Group LP now owns 1,560,548 shares of the company’s stock valued at $48,424,000 after buying an additional 972,798 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Mr. Cooper Group by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 836,723 shares of the company’s stock valued at $25,963,000 after buying an additional 57,023 shares during the period. Norges Bank bought a new stake in shares of Mr. Cooper Group during the 4th quarter valued at $14,193,000. Schroder Investment Management Group grew its position in shares of Mr. Cooper Group by 12.9% in the 4th quarter. Schroder Investment Management Group now owns 308,291 shares of the company’s stock worth $9,566,000 after buying an additional 35,235 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Mr. Cooper Group by 0.3% in the 4th quarter. Alliancebernstein L.P. now owns 262,844 shares of the company’s stock worth $8,156,000 after purchasing an additional 800 shares in the last quarter. 89.40% of the stock is owned by hedge funds and other institutional investors.

COOP stock opened at $32.69 on Wednesday. The business has a 50-day moving average of $33.90 and a 200-day moving average of $28.66. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $2.96 billion, a P/E ratio of 16.26 and a beta of 1.56. Mr. Cooper Group has a fifty-two week low of $6.95 and a fifty-two week high of $37.90.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in the United States. The company operates through three segments: Servicing, Originations, and Xome. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.

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Earnings History and Estimates for Mr. Cooper Group (NASDAQ:COOP)

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