Brokerages Expect Essent Group Ltd. (NYSE:ESNT) Will Announce Earnings of $1.17 Per Share


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Equities analysts expect Essent Group Ltd. (NYSE:ESNT) to report earnings per share (EPS) of $1.17 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Essent Group’s earnings, with the lowest EPS estimate coming in at $1.06 and the highest estimate coming in at $1.25. Essent Group reported earnings per share of $1.49 in the same quarter last year, which would indicate a negative year-over-year growth rate of 21.5%. The business is scheduled to announce its next quarterly earnings report on Friday, February 12th.

According to Zacks, analysts expect that Essent Group will report full year earnings of $3.95 per share for the current financial year, with EPS estimates ranging from $3.84 to $4.04. For the next fiscal year, analysts forecast that the company will post earnings of $5.28 per share, with EPS estimates ranging from $4.11 to $6.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Essent Group.

Essent Group (NYSE:ESNT) last posted its earnings results on Friday, November 6th. The financial services provider reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.12. The business had revenue of $243.00 million for the quarter, compared to analyst estimates of $240.48 million. Essent Group had a net margin of 46.59% and a return on equity of 12.97%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 EPS.

Several equities research analysts have recently weighed in on the stock. MKM Partners boosted their target price on shares of Essent Group from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Monday, November 23rd. Royal Bank of Canada boosted their price objective on shares of Essent Group from $39.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, November 10th. TheStreet raised shares of Essent Group from a “c+” rating to a “b-” rating in a research report on Monday, November 2nd. Finally, The Goldman Sachs Group began coverage on shares of Essent Group in a research report on Monday, September 21st. They set a “buy” rating and a $46.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $47.58.

In other news, CFO Lawrence E. Mcalee, Jr. sold 5,447 shares of the company’s stock in a transaction that occurred on Thursday, December 24th. The shares were sold at an average price of $43.72, for a total value of $238,142.84. Following the completion of the sale, the chief financial officer now directly owns 184,202 shares of the company’s stock, valued at approximately $8,053,311.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mary Lourdes Gibbons sold 3,850 shares of the company’s stock in a transaction that occurred on Monday, January 11th. The stock was sold at an average price of $48.09, for a total transaction of $185,146.50. Following the completion of the sale, the senior vice president now directly owns 211,412 shares of the company’s stock, valued at $10,166,803.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,820 shares of company stock valued at $1,309,743. 2.90% of the stock is owned by insiders.

Several large investors have recently modified their holdings of ESNT. BlackRock Inc. boosted its stake in shares of Essent Group by 16.9% in the 3rd quarter. BlackRock Inc. now owns 12,553,405 shares of the financial services provider’s stock valued at $464,601,000 after purchasing an additional 1,815,684 shares during the last quarter. Vanguard Group Inc. increased its holdings in Essent Group by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,228,672 shares of the financial services provider’s stock worth $370,993,000 after acquiring an additional 958,615 shares during the last quarter. FMR LLC increased its holdings in Essent Group by 18.8% in the 2nd quarter. FMR LLC now owns 9,924,430 shares of the financial services provider’s stock worth $359,959,000 after acquiring an additional 1,571,000 shares during the last quarter. Cooke & Bieler LP increased its holdings in Essent Group by 3.7% in the 3rd quarter. Cooke & Bieler LP now owns 3,627,420 shares of the financial services provider’s stock worth $134,251,000 after acquiring an additional 128,505 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Essent Group by 45.1% in the 3rd quarter. LSV Asset Management now owns 1,431,461 shares of the financial services provider’s stock worth $52,978,000 after purchasing an additional 444,964 shares during the period. 87.43% of the stock is owned by institutional investors.

Shares of ESNT traded down $0.19 during midday trading on Wednesday, hitting $48.17. The company had a trading volume of 692,142 shares, compared to its average volume of 852,107. The company’s 50 day moving average price is $44.76 and its 200 day moving average price is $39.74. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 11.28 and a beta of 1.38. Essent Group has a 52 week low of $17.52 and a 52 week high of $52.99.

Essent Group Company Profile

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

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