Brokerages Expect Essent Group Ltd. (NYSE:ESNT) to Announce $1.58 Earnings Per Share

Equities research analysts expect that Essent Group Ltd. (NYSE:ESNT – Get Rating) will announce earnings of $1.58 per share for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Essent Group’s earnings. The highest EPS estimate is $1.71 and the lowest is $1.45. Essent Group reported earnings per share of $1.42 in the same quarter last year, which suggests a positive year-over-year growth rate of 11.3%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Essent Group will report full year earnings of $7.49 per share for the current year, with EPS estimates ranging from $7.27 to $7.70. For the next year, analysts expect that the business will report earnings of $6.53 per share, with EPS estimates ranging from $6.38 to $6.67. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Essent Group.

Essent Group (NYSE:ESNT – Get Rating) last posted its quarterly earnings data on Friday, May 6th. The financial services provider reported $2.52 earnings per share for the quarter, beating the consensus estimate of $1.46 by $1.06. Essent Group had a net margin of 78.25% and a return on equity of 19.64%. The company had revenue of $264.60 million during the quarter, compared to analyst estimates of $240.09 million. During the same quarter last year, the firm posted $1.21 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis.

ESNT has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded Essent Group from a “neutral” rating to an “overweight” rating and set a $47.00 price objective on the stock in a report on Monday, April 11th. The Goldman Sachs Group reduced their price target on shares of Essent Group from $55.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, April 4th. BTIG Research cut their target price on shares of Essent Group from $58.00 to $55.00 in a research note on Tuesday, April 12th. StockNews.com began coverage on Essent Group in a report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Zacks Investment Research downgraded Essent Group from a “buy” rating to a “sell” rating in a report on Tuesday, April 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Essent Group has a consensus rating of “Buy” and an average price target of $54.63.

Shares of Essent Group stock traded up $1.47 on Tuesday, reaching $41.97. 18,398 shares of the company were exchanged, compared to its average volume of 682,465. Essent Group has a fifty-two week low of $39.26 and a fifty-two week high of $50.17. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 5.64, a price-to-earnings-growth ratio of 0.54 and a beta of 1.21. The stock has a fifty day moving average price of $41.40 and a 200-day moving average price of $43.93.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Wednesday, June 1st will be paid a $0.21 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.00%. This is an increase from Essent Group’s previous quarterly dividend of $0.20. Essent Group’s payout ratio is 10.78%.

In other Essent Group news, Director Robert Glanville bought 1,000 shares of Essent Group stock in a transaction on Wednesday, March 9th. The stock was purchased at an average cost of $40.71 per share, for a total transaction of $40,710.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its holdings in Essent Group by 73.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 554 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 235 shares during the period. First Horizon Advisors Inc. increased its position in Essent Group by 198.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 599 shares of the financial services provider’s stock worth $29,000 after buying an additional 398 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Essent Group during the fourth quarter worth approximately $31,000. Lazard Asset Management LLC boosted its position in shares of Essent Group by 43.9% in the first quarter. Lazard Asset Management LLC now owns 1,668 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 509 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Essent Group in the first quarter worth $74,000. 92.72% of the stock is owned by institutional investors.

Essent Group Company Profile (Get Rating)

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.

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