Essent Group Ltd. (ESNT) Releases Earnings Results, Beats Estimates By $0.07 EPS
Essent Group Ltd. (NYSE:ESNT) released its quarterly earnings data on Thursday. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07, Briefing.com reports. The company had revenue of $150.20 million for the quarter, compared to the consensus estimate of $143.79 million. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS.
Shares of Essent Group (NYSE:ESNT) traded down $0.64 on Friday, hitting $41.58. The stock had a trading volume of 812,953 shares, compared to its average volume of 677,305. The firm has a market cap of $4,150.00, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.15. Essent Group has a one year low of $25.84 and a one year high of $45.10.
In related news, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $38.91, for a total value of $77,820.00. Following the sale, the vice president now owns 28,785 shares of the company’s stock, valued at approximately $1,120,024.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP David B. Weinstock sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $41.71, for a total value of $125,130.00. Following the completion of the sale, the vice president now directly owns 25,785 shares in the company, valued at approximately $1,075,492.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,045 shares of company stock valued at $1,033,735. Insiders own 18.10% of the company’s stock.
ESNT has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $44.00 target price on shares of Essent Group in a research note on Thursday, October 12th. BidaskClub lowered Essent Group from a “hold” rating to a “sell” rating in a research note on Friday, September 8th. Zacks Investment Research lowered Essent Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Compass Point reiterated a “buy” rating and issued a $50.00 target price (up previously from $38.00) on shares of Essent Group in a research note on Wednesday, October 11th. Finally, Barclays PLC restated a “buy” rating on shares of Essent Group in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $45.00.
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About Essent Group
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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