Stock Track | Mr. Cooper Group Shares Plunge on Q3 Revenue Miss

Stock Track

Oct 23, 2024

Shares of Mr. Cooper Group Inc. (COOP) plummeted 5.13% on Tuesday after the mortgage services provider reported weaker-than-expected revenue for the third quarter of 2024. The stock closed at $89.96, down $4.86 from the previous close.

For the quarter ended September 30, 2024, Mr. Cooper Group posted earnings of $1.22 per diluted share, down from $4.06 a year earlier and missing analysts' average estimate of $2.33. Revenue came in at $424 million, a 26% decrease from a year ago and well below the consensus forecast of $536.7 million.

The disappointing top-line results overshadowed the company's better-than-expected earnings performance and triggered a sell-off in Mr. Cooper Group shares. Analysts attributed the revenue miss primarily to lower mortgage origination volumes as interest rates remained elevated in the quarter.

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(COOP) plummeted 5.13% on Tuesday after the mortgage services provider reported weaker-than-expected revenue for the third quarter of 2024. The stock closed at $89.96, down $4.86 from the previous close.</p>\n\n<p>For the quarter ended September 30, 2024, Mr. Cooper Group posted earnings of $1.22 per diluted share, down from $4.06 a year earlier and missing analysts' average estimate of $2.33. Revenue came in at $424 million, a 26% decrease from a year ago and well below the consensus forecast of $536.7 million.</p>\n\n<p>The disappointing top-line results overshadowed the company's better-than-expected earnings performance and triggered a sell-off in Mr. Cooper Group shares. Analysts attributed the revenue miss primarily to lower mortgage origination volumes as interest rates remained elevated in the quarter.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"COOP","symbol_name":"Mr. Cooper Group Inc.","start_time":0,"source_url":"","article_id":"1190027868","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1190027868","pubTimestamp":1729690946,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Mr. Cooper Group Inc.  plummeted 5.13% on Tuesday after the mortgage services provider reported weaker-than-expected revenue for the third quarter of 2024. 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