Radian Group Receives New Coverage from Analysts at Goldman Sachs Group Inc. (RDN)
Equities research analysts at Goldman Sachs Group Inc. initiated coverage on shares of Radian Group (NYSE:RDN) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $17.00 price target on the stock. Goldman Sachs Group Inc.’s target price points to a potential upside of 17.65% from the company’s current price.
The analysts wrote, “We initiate coverage on the Specialty Finance sector with Buy ratings on MTG (CL-Buy) and RDN (23% and 18% upside to our targets respectively) as we believe their pace of credit improvement is underestimated by the market. The sector also has one of the strongest secular growth outlooks in financials as FHA reform drives increased demand for private mortgage insurance. New entrant ESNT (Neutral) is a pure-play growth story, though lacks the credit upside of MTG and RDN and looks fairly valued in our view.”
A number of other analysts have also recently weighed in on RDN. Analysts at Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Radian Group in a research note to investors on Tuesday, November 5th. They now have a $18.50 price target on the stock, up previously from $17.00. Separately, analysts at Credit Suisse raised their price target on shares of Radian Group from $12.00 to $14.00 in a research note to investors on Thursday, October 3rd. Finally, analysts at JMP Securities initiated coverage on shares of Radian Group in a research note to investors on Tuesday, September 17th. They set an “outperform” rating and a $17.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $15.88.
Radian Group (NYSE:RDN) traded up 0.97% on Thursday, hitting $14.59. The stock had a trading volume of 350,022 shares. Radian Group has a 1-year low of $4.57 and a 1-year high of $15.15. The stock’s 50-day moving average is $13.95 and its 200-day moving average is $13.38. The company’s market cap is $2.526 billion. Radian Group also was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 7,351 put options on the stock. This represents an increase of 229% compared to the average volume of 2,231 put options.
Radian Group (NYSE:RDN) last released its earnings data on Thursday, November 7th. The company reported ($0.07) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.11) by $0.04. The company had revenue of $250.84 million for the quarter, compared to the consensus estimate of $211.00 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. Analysts expect that Radian Group will post $-1.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, December 5th. Shareholders of record on Monday, November 25th will be given a dividend of $0.00 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date of this dividend is Thursday, November 21st.
Radian Group Inc (NYSE:RDN) is a credit enhancement company with a focus on domestic, first-lien residential mortgage insurance (first-lien).
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