Radian Group (NYSE:RDN) issued its quarterly earnings results on Wednesday. The insurance provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08, MarketWatch Earnings reports. Radian Group had a return on equity of 16.10% and a net margin of 31.87%. The company had revenue of $330.70 million for the quarter, compared to analyst estimates of $334.59 million. During the same quarter in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year.
NYSE RDN traded down $0.15 during trading hours on Friday, hitting $19.16. The company had a trading volume of 29,508 shares, compared to its average volume of 1,047,166. Radian Group has a fifty-two week low of $14.06 and a fifty-two week high of $23.49. The company has a market cap of $3.91 billion, a P/E ratio of 10.53, a P/E/G ratio of 1.44 and a beta of 1.49. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32.
A number of analysts have recently commented on the company. Compass Point set a $26.00 price objective on Radian Group and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research upgraded Radian Group from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Tuesday, July 17th. B. Riley upped their price objective on Radian Group from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. TheStreet upgraded Radian Group from a “c+” rating to a “b-” rating in a report on Tuesday, July 31st. Finally, Bank of America upped their price objective on Radian Group from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, August 13th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Radian Group presently has a consensus rating of “Buy” and an average target price of $23.36.
Radian Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 16th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Radian Group Company Profile
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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