$1.34 EPS Expected for Essent Group Ltd. (NYSE:ESNT) This Quarter


Share on StockTwits

Analysts expect Essent Group Ltd. (NYSE:ESNT) to post earnings of $1.33 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Essent Group’s earnings, with the lowest EPS estimate coming in at $1.14 and the highest estimate coming in at $1.65. Essent Group reported earnings of $1.52 per share during the same quarter last year, which indicates a negative year over year growth rate of 12.5%. The firm is expected to issue its next quarterly earnings report before the market opens on Friday, May 7th.

According to Zacks, analysts expect that Essent Group will report full year earnings of $5.36 per share for the current financial year, with EPS estimates ranging from $4.91 to $5.70. For the next fiscal year, analysts anticipate that the company will report earnings of $6.06 per share, with EPS estimates ranging from $5.73 to $6.55. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Essent Group.

Essent Group (NYSE:ESNT) last announced its earnings results on Thursday, February 18th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.12). The business had revenue of $247.20 million for the quarter, compared to the consensus estimate of $253.03 million. Essent Group had a net margin of 46.59% and a return on equity of 12.97%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.49 EPS.

Several research analysts have issued reports on the company. JPMorgan Chase & Co. lowered Essent Group from an “overweight” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Tuesday, January 19th. Zacks Investment Research lowered Essent Group from a “hold” rating to a “sell” rating in a report on Thursday, February 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Essent Group presently has an average rating of “Hold” and a consensus price target of $47.75.

In related news, CFO Lawrence E. Mcalee, Jr. sold 2,506 shares of the stock in a transaction that occurred on Wednesday, April 21st. The stock was sold at an average price of $50.00, for a total transaction of $125,300.00. Following the completion of the sale, the chief financial officer now directly owns 194,078 shares of the company’s stock, valued at $9,703,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David B. Weinstock sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $49.83, for a total value of $99,660.00. Following the sale, the chief accounting officer now directly owns 25,811 shares of the company’s stock, valued at $1,286,162.13. The disclosure for this sale can be found here. Insiders have sold 16,153 shares of company stock valued at $807,310 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of ESNT. Ninety One UK Ltd increased its position in Essent Group by 1.3% in the fourth quarter. Ninety One UK Ltd now owns 1,254,859 shares of the financial services provider’s stock worth $54,210,000 after buying an additional 16,112 shares during the last quarter. Credit Suisse AG increased its position in Essent Group by 45.8% in the fourth quarter. Credit Suisse AG now owns 170,412 shares of the financial services provider’s stock worth $7,362,000 after buying an additional 53,559 shares during the last quarter. Sei Investments Co. increased its position in Essent Group by 6.6% in the fourth quarter. Sei Investments Co. now owns 94,841 shares of the financial services provider’s stock worth $4,090,000 after buying an additional 5,905 shares during the last quarter. Duality Advisers LP purchased a new stake in Essent Group in the fourth quarter worth $1,635,000. Finally, Assetmark Inc. increased its position in Essent Group by 17.7% in the fourth quarter. Assetmark Inc. now owns 12,267 shares of the financial services provider’s stock worth $530,000 after buying an additional 1,843 shares during the last quarter. 95.43% of the stock is owned by institutional investors.

NYSE:ESNT traded up $0.93 on Monday, hitting $50.99. The stock had a trading volume of 18,218 shares, compared to its average volume of 963,068. The business’s fifty day moving average is $45.82 and its 200 day moving average is $44.37. The company has a market cap of $5.75 billion, a PE ratio of 11.72 and a beta of 1.34. Essent Group has a 52 week low of $23.65 and a 52 week high of $50.10.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 19th. Investors of record on Wednesday, March 10th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Tuesday, March 9th. Essent Group’s payout ratio is 11.31%.

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; underwriting consulting; and contract underwriting services.

Read More: What is Considered a Good Return on Equity (ROE)?

Get a free copy of the Zacks research report on Essent Group (ESNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Essent Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essent Group and related companies with MarketBeat.com's FREE daily email newsletter.