Wall Street brokerages expect Mr. Cooper Group Inc (NASDAQ:COOP) to announce sales of $410.45 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Mr. Cooper Group’s earnings. The lowest sales estimate is $404.00 million and the highest is $416.90 million. Mr. Cooper Group reported sales of $399.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The business is scheduled to announce its next earnings results on Thursday, August 6th.
According to Zacks, analysts expect that Mr. Cooper Group will report full-year sales of $1.93 billion for the current year, with estimates ranging from $1.92 billion to $1.94 billion. For the next year, analysts forecast that the business will report sales of $2.60 billion, with estimates ranging from $2.53 billion to $2.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Mr. Cooper Group.
Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. Mr. Cooper Group had a negative net margin of 4.65% and a positive return on equity of 22.68%. The company had revenue of $278.00 million during the quarter, compared to analysts’ expectations of $418.35 million.
Several brokerages have commented on COOP. Credit Suisse Group decreased their price target on shares of Mr. Cooper Group from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Zacks Investment Research lowered shares of Mr. Cooper Group from a “hold” rating to a “sell” rating in a report on Thursday, May 7th. TheStreet upgraded shares of Mr. Cooper Group from a “d+” rating to a “c-” rating in a report on Wednesday. Piper Sandler lowered shares of Mr. Cooper Group from an “overweight” rating to an “underweight” rating and set a $12.00 price objective on the stock. in a report on Thursday, April 9th. Finally, BidaskClub upgraded shares of Mr. Cooper Group from a “sell” rating to a “hold” rating in a report on Thursday, April 9th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $14.83.
Shares of COOP stock opened at $10.22 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.39. Mr. Cooper Group has a 52 week low of $4.31 and a 52 week high of $14.68. The stock has a market capitalization of $939.01 million, a PE ratio of -10.22 and a beta of 1.20. The firm has a 50 day moving average of $8.30 and a two-hundred day moving average of $11.20.
In related news, CFO Christopher G. Marshall purchased 2,749 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average cost of $9.50 per share, for a total transaction of $26,115.50. Following the purchase, the chief financial officer now directly owns 665,975 shares of the company’s stock, valued at $6,326,762.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.53% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in Mr. Cooper Group by 927.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 4,697 shares of the company’s stock worth $34,000 after acquiring an additional 4,240 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Mr. Cooper Group by 69.0% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 4,775 shares of the company’s stock worth $35,000 after acquiring an additional 1,950 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in Mr. Cooper Group in the first quarter valued at $53,000. Great West Life Assurance Co. Can acquired a new position in Mr. Cooper Group in the fourth quarter valued at $58,000. Finally, Synovus Financial Corp acquired a new position in Mr. Cooper Group in the first quarter valued at $81,000. Hedge funds and other institutional investors own 82.21% of the company’s stock.
About Mr. Cooper Group
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.
See Also: Return on Equity (ROE)
Get a free copy of the Zacks research report on Mr. Cooper Group (COOP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mr. Cooper Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mr. Cooper Group and related companies with MarketBeat.com's FREE daily email newsletter.