Zacks: Analysts Anticipate Essent Group Ltd. (NYSE:ESNT) Will Post Earnings of $1.33 Per Share

Equities analysts expect Essent Group Ltd. (NYSE:ESNT) to post earnings of $1.33 per share for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Essent Group’s earnings, with the highest EPS estimate coming in at $1.65 and the lowest estimate coming in at $1.14. Essent Group reported earnings per share of $1.52 during the same quarter last year, which suggests a negative year over year growth rate of 12.5%. The business is expected to report its next earnings results on Friday, May 14th.

On average, analysts expect that Essent Group will report full-year earnings of $5.36 per share for the current fiscal year, with EPS estimates ranging from $4.93 to $5.70. For the next year, analysts forecast that the business will post earnings of $6.08 per share, with EPS estimates ranging from $5.79 to $6.55. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Essent Group.

Essent Group (NYSE:ESNT) last released its earnings results on Thursday, February 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.12). Essent Group had a net margin of 46.59% and a return on equity of 12.97%. The business had revenue of $247.20 million during the quarter, compared to analyst estimates of $253.03 million. During the same period last year, the business posted $1.49 EPS. Essent Group’s revenue was up 8.0% compared to the same quarter last year.

Several research analysts have recently issued reports on ESNT shares. JPMorgan Chase & Co. downgraded Essent Group from an “overweight” rating to a “neutral” rating and set a $52.00 price target for the company. in a research note on Tuesday, January 19th. BTIG Research lifted their price target on Essent Group from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, December 17th. Finally, Zacks Investment Research downgraded Essent Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $47.75.

In other Essent Group news, 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 value of $185,146.50. Following the transaction, the senior vice president now directly owns 211,412 shares of the company’s stock, valued at approximately $10,166,803.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd bought a new position in Essent Group during the 4th quarter worth $32,000. Planned Solutions Inc. bought a new position in Essent Group during the fourth quarter valued at about $48,000. Public Employees Retirement System of Ohio bought a new position in Essent Group during the fourth quarter valued at about $79,000. Toronto Dominion Bank bought a new position in Essent Group during the fourth quarter valued at about $163,000. Finally, Nisa Investment Advisors LLC boosted its stake in Essent Group by 19.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,245 shares of the financial services provider’s stock valued at $183,000 after buying an additional 700 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:ESNT traded up $1.07 during midday trading on Thursday, hitting $49.64. 55,149 shares of the stock were exchanged, compared to its average volume of 942,787. The stock has a market cap of $5.60 billion, a P/E ratio of 11.37 and a beta of 1.34. Essent Group has a twelve month low of $22.14 and a twelve month high of $49.53. The company has a 50 day moving average price of $44.07 and a 200-day moving average price of $43.50.

The business 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 annualized dividend and a yield of 1.29%. The ex-dividend date was Tuesday, March 9th. Essent Group’s dividend payout ratio (DPR) is presently 11.31%.

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. 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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