Radian Group Stock Price Up 5.1% After Better-Than-Expected Earnings (RDN)
Shares of Radian Group (NYSE:RDN) rose 5.1% on Thursday after the company announced better than expected quarterly earnings, AnalystRatings.Net reports. The company traded as high as $13.69 and last traded at $13.40, with a volume of 5,412,682 shares trading hands. The stock had previously closed at $12.75.
The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.50. The company had revenue of $222.37 million for the quarter, compared to the consensus estimate of $210.70 million. During the same quarter last year, the company posted ($0.19) earnings per share. Radian Group’s revenue was down .4% compared to the same quarter last year.
A number of research firms have recently commented on RDN. 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. Analysts at TheStreet upgraded shares of Radian Group from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Radian Group has a consensus rating of “Buy” and an average price target of $17.58.
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 $2.310 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).
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