Essent Group (NYSE:ESNT) Releases Earnings Results, Beats Estimates By $0.03 EPS

Essent Group (NYSE:ESNT) issued its earnings results on Friday. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03, Bloomberg Earnings reports. The company had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $225.94 million. Essent Group had a return on equity of 20.86% and a net margin of 64.58%. Essent Group’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the business earned $1.31 EPS.

NYSE ESNT traded down $3.09 on Friday, reaching $48.93. The company had a trading volume of 1,668,002 shares, compared to its average volume of 547,423. The stock has a market capitalization of $5.10 billion, a P/E ratio of 8.95, a P/E/G ratio of 0.84 and a beta of 1.17. The company’s fifty day moving average is $51.27 and its 200 day moving average is $50.58. Essent Group has a 52-week low of $42.08 and a 52-week high of $55.84.

A number of research firms recently commented on ESNT. JPMorgan Chase & Co. raised Essent Group from a “neutral” rating to an “overweight” rating and set a $57.50 price target for the company in a research report on Friday, January 17th. Zacks Investment Research raised Essent Group from a “hold” rating to a “strong-buy” rating and set a $58.00 price target for the company in a research report on Thursday, January 16th. Finally, ValuEngine lowered Essent Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 26th.

In other news, SVP Vijay Bhasin sold 40,887 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $55.05, for a total transaction of $2,250,829.35. Following the completion of the sale, the senior vice president now directly owns 164,396 shares of the company’s stock, valued at approximately $9,049,999.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Roy James Kasmar sold 2,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $53.93, for a total value of $107,860.00. The disclosure for this sale can be found here. Insiders sold a total of 51,687 shares of company stock valued at $2,815,814 over the last three months. 2.90% of the stock is currently owned by insiders.

About Essent Group

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

Further Reading: Portfolio Manager

Earnings History for Essent Group (NYSE:ESNT)

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