Mr. Cooper Group (NASDAQ:COOP) Issues Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Mr. Cooper Group (NASDAQ:COOP) announced its earnings results on Thursday. The company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.19, Zacks reports. The business had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 earnings per share.

Mr. Cooper Group Stock Performance

COOP traded up $2.00 during trading on Friday, reaching $94.54. 712,271 shares of the company traded hands, compared to its average volume of 503,927. The company has a market cap of $6.12 billion, a P/E ratio of 9.90 and a beta of 1.39. Mr. Cooper Group has a 12-month low of $52.46 and a 12-month high of $95.74. The firm has a fifty day simple moving average of $83.36 and a 200 day simple moving average of $76.95.

Analyst Ratings Changes

Several research firms have recently commented on COOP. Keefe, Bruyette & Woods lowered Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a research note on Monday, July 22nd. Wedbush raised their price objective on Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Piper Sandler raised their target price on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Barclays upped their price target on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.88.

Insider Transactions at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Michael R. Rawls sold 27,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total value of $2,218,860.00. Following the sale, the chief executive officer now directly owns 57,623 shares in the company, valued at approximately $4,735,458.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael R. Rawls sold 27,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total value of $2,218,860.00. Following the sale, the chief executive officer now owns 57,623 shares in the company, valued at $4,735,458.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on Monday, April 29th. The stock was sold at an average price of $78.79, for a total transaction of $1,969,750.00. Following the completion of the transaction, the chief executive officer now directly owns 309,631 shares of the company’s stock, valued at $24,395,826.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,000 shares of company stock valued at $8,247,360. 2.33% of the stock is currently owned by corporate insiders.

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.