Wall Street analysts forecast that Essent Group Ltd (NYSE:ESNT) will post earnings per share of $1.04 for the current quarter, Zacks reports. Zero analysts have made estimates for Essent Group’s earnings, with the highest EPS estimate coming in at $1.06 and the lowest estimate coming in at $1.02. Essent Group posted earnings of $0.77 per share during the same quarter last year, which suggests a positive year over year growth rate of 35.1%. The firm is scheduled to report its next earnings report on Friday, August 3rd.
According to Zacks, analysts expect that Essent Group will report full year earnings of $4.36 per share for the current year, with EPS estimates ranging from $4.31 to $4.44. For the next fiscal year, analysts forecast that the firm will post earnings of $4.80 per share, with EPS estimates ranging from $4.61 to $5.10. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Essent Group.
Essent Group (NYSE:ESNT) last announced its earnings results on Friday, May 4th. The financial services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Essent Group had a return on equity of 18.80% and a net margin of 68.82%. The firm had revenue of $167.50 million during the quarter, compared to the consensus estimate of $165.81 million. During the same quarter in the prior year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year.
Several analysts recently weighed in on the company. Wells Fargo & Co restated a “buy” rating on shares of Essent Group in a research note on Tuesday, March 13th. Macquarie assumed coverage on Essent Group in a research note on Wednesday, March 14th. They set an “outperform” rating and a $62.00 target price for the company. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, June 19th. Barclays decreased their target price on Essent Group from $57.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, April 11th. Finally, Deutsche Bank decreased their target price on Essent Group from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, April 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $50.68.
Shares of NYSE:ESNT opened at $35.82 on Friday. Essent Group has a twelve month low of $32.73 and a twelve month high of $50.08. The company has a market cap of $3.53 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21.
A number of institutional investors have recently bought and sold shares of the business. Affinity Investment Advisors LLC raised its holdings in Essent Group by 20.8% in the 1st quarter. Affinity Investment Advisors LLC now owns 9,039 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 1,554 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Essent Group by 1.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 126,436 shares of the financial services provider’s stock valued at $5,382,000 after acquiring an additional 1,648 shares in the last quarter. Csenge Advisory Group raised its holdings in Essent Group by 24.7% in the 4th quarter. Csenge Advisory Group now owns 8,993 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 1,780 shares in the last quarter. LPL Financial LLC raised its holdings in Essent Group by 35.9% in the 1st quarter. LPL Financial LLC now owns 6,994 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 1,847 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in Essent Group by 11.4% in the 4th quarter. Raymond James & Associates now owns 20,192 shares of the financial services provider’s stock valued at $877,000 after acquiring an additional 2,064 shares in the last quarter. 90.41% of the stock is owned by hedge funds and other institutional investors.
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.
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