In a remarkable display of market confidence, COOP stock has soared to an all-time high, with shares trading at a staggering $97.45. This milestone underscores a period of robust growth for the company, which has seen its stock value skyrocket over the past year. Investors have been rallying behind COOP, propelling the stock to new heights and reflecting a bullish outlook on the company's performance and future prospects. The 1-year change data for Wmi Holdings (NASDAQ:COOP), which is associated with COOP, further emphasizes the positive trend, showcasing an impressive 74.65% increase. This surge in stock value is a testament to the company's strong financial health and its ability to consistently deliver value to its shareholders.
In other recent news, Mr. Cooper Group reported a robust pre-tax operating income of $246 million in the third quarter of 2024, with a tangible book value per share seeing an 11% year-over-year increase, reaching $69.93. The company's servicing portfolio expanded to $1.2 trillion, contributing to a strong Originations segment performance, resulting in $69 million in pre-tax income. In addition, the firm anticipates a pre-tax servicing income between $285 million and $305 million for Q4 2024. Barclays (LON:BARC) reiterated its Overweight rating on Mr. Cooper Group, maintaining the price target at $108.00, and anticipates a 200 basis point expansion in return on tangible common equity (ROTCE) by 2025 and a 30% growth in earnings per share (EPS). The company's upcoming acquisition of Flagstar, expected to conclude in the fourth quarter of 2024, is a significant development, positioning Mr. Cooper Group as the industry's largest customer franchise, serving over 6 million customers. These recent developments underscore Mr. Cooper Group's strong financial performance and strategic growth initiatives.
InvestingPro Insights
COOP's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's stock is currently trading at $96.47, which is 98.45% of its 52-week high, reinforcing the article's observation of the stock reaching an all-time high. This is supported by an InvestingPro Tip indicating that COOP is "Trading near 52-week high."
The article's mention of robust growth is reflected in COOP's impressive financial metrics. The company has shown a strong revenue growth of 16.66% over the last twelve months as of Q3 2024, with a remarkable EBITDA growth of 124.88% during the same period. These figures underscore the company's solid financial performance.
InvestingPro Tips also highlight that COOP has demonstrated "High return over the last year" and "Strong return over the last three months," with data showing a 68.92% 1-year price total return and a 16.12% 3-month price total return as of the latest available data. These returns align closely with the article's mention of the stock's significant appreciation over the past year.
For investors seeking more comprehensive insights, InvestingPro offers 11 additional tips for COOP, providing a deeper understanding of the company's financial position and market performance.
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