Essent Group Ltd (NYSE:ESNT) Expected to Post Earnings of $1.45 Per Share

Equities analysts predict that Essent Group Ltd (NYSE:ESNT) will report $1.45 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Essent Group’s earnings, with the lowest EPS estimate coming in at $1.42 and the highest estimate coming in at $1.47. Essent Group posted earnings of $1.39 per share during the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The firm is scheduled to report its next earnings report on Friday, February 14th.

On average, analysts expect that Essent Group will report full year earnings of $5.61 per share for the current financial year, with EPS estimates ranging from $5.58 to $5.64. For the next financial year, analysts forecast that the company will post earnings of $6.03 per share, with EPS estimates ranging from $5.92 to $6.10. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Essent Group.

Essent Group (NYSE:ESNT) last released its earnings results on Friday, November 8th. The financial services provider reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.09. Essent Group had a return on equity of 20.86% and a net margin of 64.58%. The firm had revenue of $226.39 million for the quarter, compared to analysts’ expectations of $216.35 million. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 EPS.

A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Wednesday, October 23rd. ValuEngine raised shares of Essent Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 24th.

Shares of NYSE ESNT traded down $0.06 during midday trading on Friday, reaching $53.51. The company’s stock had a trading volume of 9,150 shares, compared to its average volume of 403,762. Essent Group has a fifty-two week low of $31.08 and a fifty-two week high of $55.84. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.97 and a beta of 1.22. The stock has a 50 day simple moving average of $52.88 and a 200-day simple moving average of $49.11.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, December 4th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, December 3rd. Essent Group’s dividend payout ratio is currently 12.37%.

In related news, CAO David B. Weinstock sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $48.30, for a total transaction of $96,600.00. Following the transaction, the chief accounting officer now directly owns 22,118 shares in the company, valued at $1,068,299.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Vijay Bhasin sold 40,887 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $55.05, for a total transaction of $2,250,829.35. Following the sale, the senior vice president now directly owns 164,396 shares in the company, valued at $9,049,999.80. The disclosure for this sale can be found here. Insiders have sold 49,649 shares of company stock worth $2,699,624 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its stake in shares of Essent Group by 2.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 16,985 shares of the financial services provider’s stock worth $810,000 after purchasing an additional 340 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in Essent Group by 35.0% during the second quarter. GHP Investment Advisors Inc. now owns 57,672 shares of the financial services provider’s stock worth $2,710,000 after purchasing an additional 14,940 shares during the period. Alberta Investment Management Corp grew its holdings in Essent Group by 10.2% during the second quarter. Alberta Investment Management Corp now owns 87,700 shares of the financial services provider’s stock worth $4,121,000 after purchasing an additional 8,100 shares during the period. Eqis Capital Management Inc. increased its position in Essent Group by 3.2% during the third quarter. Eqis Capital Management Inc. now owns 6,266 shares of the financial services provider’s stock worth $299,000 after buying an additional 194 shares during the last quarter. Finally, BlackRock Inc. increased its position in Essent Group by 1.7% during the second quarter. BlackRock Inc. now owns 7,962,417 shares of the financial services provider’s stock worth $374,154,000 after buying an additional 133,818 shares during the last quarter. Hedge funds and other institutional investors own 91.19% of the company’s stock.

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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