Essent Group Ltd. (ESNT) Set to Announce Quarterly Earnings on Thursday
Essent Group Ltd. (NYSE:ESNT) will issue its quarterly earnings data before the market opens on Thursday, November 9th. Analysts expect the company to announce earnings of $0.79 per share for the quarter.
Essent Group (NYSE:ESNT) last issued its earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.09. The company had revenue of $137.61 million for the quarter, compared to the consensus estimate of $131.99 million. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the company earned $0.57 EPS. On average, analysts expect Essent Group to post $3.02 EPS for the current fiscal year and $3.42 EPS for the next fiscal year.
A number of brokerages have issued reports on ESNT. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Friday, September 8th. Deutsche Bank AG increased their price target on Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. BidaskClub downgraded Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $43.00 price target on Essent Group and gave the stock a “hold” rating in a research report on Monday, August 7th. Finally, Barclays PLC increased their price target on Essent Group from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $44.88.
In other news, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $38.95, for a total value of $77,900.00. Following the transaction, the vice president now owns 30,785 shares in the company, valued at $1,199,075.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mary Lourdes Gibbons sold 5,209 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $45.02, for a total value of $234,509.18. Following the completion of the transaction, the senior vice president now owns 252,857 shares in the company, valued at approximately $11,383,622.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,363 shares of company stock worth $1,531,285. Company insiders own 18.10% of the company’s stock.
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Essent Group Company Profile
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.
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