Q3 2017 EPS Estimates for Radian Group Inc. (RDN) Cut by Analyst
Radian Group Inc. (NYSE:RDN) – Equities researchers at FBR & Co cut their Q3 2017 earnings estimates for shares of Radian Group in a research note issued to investors on Tuesday. FBR & Co analyst R. Binner now anticipates that the insurance provider will post earnings of $0.40 per share for the quarter, down from their previous estimate of $0.42.
A number of other analysts also recently issued reports on RDN. BidaskClub downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Barclays PLC reissued an “overweight” rating and set a $24.00 target price (down previously from $25.00) on shares of Radian Group in a research report on Wednesday, August 2nd. Finally, ValuEngine downgraded shares of Radian Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Radian Group has an average rating of “Buy” and a consensus target price of $20.88.
Radian Group (NYSE RDN) opened at 18.83 on Thursday. Radian Group has a one year low of $12.96 and a one year high of $19.87. The company has a 50 day moving average of $17.71 and a 200-day moving average of $17.34. The firm has a market cap of $4.05 billion, a PE ratio of 21.62 and a beta of 1.51.
Radian Group (NYSE:RDN) last announced its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. The firm had revenue of $302.91 million during the quarter, compared to analysts’ expectations of $299.07 million. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share.
Radian Group announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 9th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the insurance provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other Radian Group news, SVP Catherine Mary Jackson sold 17,130 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $17.22, for a total value of $294,978.60. Following the completion of the sale, the senior vice president now owns 80,720 shares of the company’s stock, valued at $1,389,998.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard G. Thornberry acquired 5,000 shares of the stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $16.54 per share, with a total value of $82,700.00. Following the transaction, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $330,800. The disclosure for this purchase can be found here. 1.83% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in Radian Group in the first quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Radian Group by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 803 shares in the last quarter. Skba Capital Management LLC acquired a new stake in Radian Group in the second quarter valued at approximately $170,000. Zacks Investment Management acquired a new stake in Radian Group in the second quarter valued at approximately $175,000. Finally, ETRADE Capital Management LLC acquired a new stake in Radian Group in the second quarter valued at approximately $183,000. 90.02% of the stock is owned by institutional investors.
Radian Group Company Profile
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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