Radian Group (RDN) Announces Quarterly Earnings, Beats Expectations By $0.50 EPS
Radian Group (NYSE:RDN) issued its quarterly earnings data on Thursday. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.50, AmericanBankingNews.com reports. The company had revenue of $222.37 million for the quarter, compared to the consensus estimate of $210.70 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis.
RDN has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Radian Group from an “outperform” rating to a “neutral” rating in a research note on Monday, July 14th. They now have a $16.40 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Radian Group from $14.00 to $15.00 in a research note on Monday, May 19th. They now have a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $17.41.
Shares of Radian Group (NYSE:RDN) traded up 6.98% on Thursday, hitting $13.64. 2,796,402 shares of the company’s stock traded hands. Radian Group has a 52-week low of $12.18 and a 52-week high of $16.24. The stock’s 50-day moving average is $13.91 and its 200-day moving average is $14.63. The company has a market cap of $2.362 billion and a price-to-earnings ratio of 11.88.
Radian Group Inc (NYSE:RDN) is a credit enhancement company with a primary strategic focus on domestic residential mortgage insurance on first-lien loans (first-lien).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.