In a report issued on October 5, Douglas Harter from Credit Suisse maintained a Buy rating on Mr Cooper Group (COOP). The company’s shares closed last Wednesday at $23.64, close to its 52-week high of $24.58.
According to TipRanks.com, Harter is a 5-star analyst with an average return of 12.2% and a 67.5% success rate. Harter covers the Financial sector, focusing on stocks such as Ellington Residential Mortgage, Arlington Asset Investment, and ARMOUR Residential REIT.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mr Cooper Group with a $23.67 average price target.
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Based on Mr Cooper Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $630 million and net profit of $73 million. In comparison, last year the company earned revenue of $399 million and had a GAAP net loss of $87 million.
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Mr. Cooper Group, Inc. is engaged in the provision of residential loan services. It operated through the following segments: Servicing, Originations and Xome. The Servicing segment consists of collecting loan payments, remitting principal and interest payments to investors, managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance, performing loss mitigation activities on behalf of investors and otherwise administering mortgage loan servicing portfolio. The Originations segment provides refinance opportunities to the existing servicing customers through direct-to-consumer platform and purchases loans from originators through correspondent channel. The Xome segment offers technology and data-enhanced solutions to banks, non-banks, investment companies, and GSEs engaged in the origination, investment, servicing of mortgage loans, as well as to home buyers, home sellers, real estate professionals mortgage professionals, and real estate investors. The company was founded on August 17, 1994 and is headquartered in Coppell, TX.
