Q2 2024 Earnings Estimate for Essent Group Ltd. Issued By Roth Capital (NYSE:ESNT)

Essent Group Ltd. (NYSE:ESNT) – Research analysts at Roth Capital increased their Q2 2024 earnings estimates for shares of Essent Group in a report released on Tuesday, May 7th. Roth Capital analyst H. Fong now anticipates that the financial services provider will post earnings per share of $1.70 for the quarter, up from their previous forecast of $1.66. The consensus estimate for Essent Group’s current full-year earnings is $6.56 per share. Roth Capital also issued estimates for Essent Group’s Q3 2024 earnings at $1.72 EPS, FY2024 earnings at $6.85 EPS, Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $1.77 EPS, Q3 2025 earnings at $1.80 EPS and Q4 2025 earnings at $1.80 EPS.

A number of other equities research analysts have also commented on ESNT. Keefe, Bruyette & Woods upped their price objective on shares of Essent Group from $62.00 to $64.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. StockNews.com lowered Essent Group from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lowered Essent Group from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $58.00 to $61.00 in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada dropped their price target on shares of Essent Group from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Essent Group has an average rating of “Hold” and an average target price of $58.75.

Essent Group Trading Down 0.7 %

NYSE:ESNT opened at $56.01 on Wednesday. The stock’s 50-day moving average is $55.34 and its 200-day moving average is $52.67. The stock has a market cap of $5.99 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 0.83 and a beta of 1.05. Essent Group has a 1-year low of $42.52 and a 1-year high of $59.90.

Essent Group (NYSE:ESNT) last posted its quarterly earnings results on Friday, May 3rd. The financial services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.14. The company had revenue of $298.40 million for the quarter, compared to the consensus estimate of $298.69 million. Essent Group had a net margin of 61.40% and a return on equity of 14.24%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company posted $1.59 EPS.

Institutional Trading of Essent Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESNT. Norges Bank purchased a new stake in shares of Essent Group in the fourth quarter valued at approximately $60,678,000. Jennison Associates LLC purchased a new stake in Essent Group in the fourth quarter worth about $20,097,000. Jupiter Asset Management Ltd. grew its holdings in Essent Group by 982.3% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 363,119 shares of the financial services provider’s stock worth $17,172,000 after acquiring an additional 329,568 shares in the last quarter. Principal Financial Group Inc. increased its position in Essent Group by 35.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,118,699 shares of the financial services provider’s stock valued at $52,903,000 after purchasing an additional 289,937 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Essent Group by 6.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,025,836 shares of the financial services provider’s stock valued at $212,326,000 after purchasing an additional 258,246 shares in the last quarter. 93.00% of the stock is owned by hedge funds and other institutional investors.

Essent Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 31st will be given a dividend of $0.28 per share. The ex-dividend date is Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.00%. Essent Group’s dividend payout ratio (DPR) is presently 16.94%.

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, as well as risk management products and title insurance and settlement services.