Publication of financial results often makes a company’s stock go one or the other. The Mr. Cooper Group Inc (NASDAQ: COOP) published its financial results for the fourth quarter this morning and it seems that the market did not quite like what it saw.
The stock has declined by as low as 3% this morning so far and in this situation, it could be a good idea for investors to take a look at the company’s earnings snapshot. The company managed to generate profits of as much as $189 million in the quarter and the net income per share came in at $2. Once adjusted for non-recurring costs, the earnings per share stood at $2.63 each.
The reason behind the decline in the Cooper Group stock seems to be due to the fact that the company’s performance failed to meet analysts’ expectations. Analysts were expecting earnings per share of $2.76 and the actual figures fell short.