$497.25 Million in Sales Expected for Mr. Cooper Group Inc (NASDAQ:COOP) This Quarter
Wall Street brokerages expect Mr. Cooper Group Inc (NASDAQ:COOP) to announce sales of $497.25 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Mr. Cooper Group’s earnings, with the highest sales estimate coming in at $505.00 million and the lowest estimate coming in at $489.50 million. Mr. Cooper Group reported sales of $3.08 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 16,044.5%. The firm is expected to report its next earnings report on Friday, July 26th.
According to Zacks, analysts expect that Mr. Cooper Group will report full-year sales of $1.69 billion for the current fiscal year, with estimates ranging from $1.66 billion to $1.71 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.89 billion, with estimates ranging from $1.77 billion to $2.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Mr. Cooper Group.
Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.33. Mr. Cooper Group had a net margin of 47.66% and a return on equity of 62.93%. The company had revenue of $250.00 million during the quarter, compared to analysts’ expectations of $455.10 million.
Shares of Mr. Cooper Group stock traded up $0.14 during mid-day trading on Friday, reaching $8.21. 24,346 shares of the stock were exchanged, compared to its average volume of 606,865. Mr. Cooper Group has a fifty-two week low of $6.57 and a fifty-two week high of $20.04. The company has a 50-day simple moving average of $7.72. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 3.63.
In other news, CEO Jesse K. Bray acquired 52,910 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $9.36 per share, for a total transaction of $495,237.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Christopher G. Marshall acquired 110,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $9.08 per share, for a total transaction of $998,800.00. The disclosure for this purchase can be found here. 0.93% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. acquired a new position in shares of Mr. Cooper Group in the 4th quarter valued at $28,000. Bronfman E.L. Rothschild L.P. acquired a new position in shares of Mr. Cooper Group in the 4th quarter valued at $46,000. Royce & Associates LP acquired a new position in shares of Mr. Cooper Group in the 1st quarter valued at $46,000. Great West Life Assurance Co. Can acquired a new stake in Mr. Cooper Group during the 4th quarter worth $99,000. Finally, SG Americas Securities LLC acquired a new stake in Mr. Cooper Group during the 1st quarter worth $139,000. Hedge funds and other institutional investors own 83.65% 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.
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