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

Analysts predict that Essent Group Ltd. (NYSE:ESNTGet Rating) will report earnings of $1.58 per share for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Essent Group’s earnings, with estimates ranging from $1.45 to $1.71. Essent Group posted earnings per share of $1.42 during the same quarter last year, which indicates a positive year-over-year growth rate of 11.3%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, 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 financial year, analysts forecast that the firm will post earnings of $6.53 per share, with EPS estimates ranging from $6.38 to $6.67. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Essent Group.

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

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

In other news, Director Robert Glanville bought 1,000 shares of Essent Group stock in a transaction on Wednesday, March 9th. The shares were bought at an average cost of $40.71 per share, for a total transaction of $40,710.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Douglas J. Pauls sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $41.75, for a total transaction of $100,200.00. Following the completion of the transaction, the director now owns 26,630 shares in the company, valued at approximately $1,111,802.50. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ESNT. Rockefeller Capital Management L.P. lifted its holdings in shares of Essent Group by 73.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 554 shares of the financial services provider’s stock valued at $25,000 after buying an additional 235 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Essent Group in the fourth quarter valued at $31,000. Lazard Asset Management LLC grew its position in 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. Meeder Asset Management Inc. acquired a new position in Essent Group in the first quarter worth $74,000. Finally, Van ECK Associates Corp boosted its stake in Essent Group by 15.9% in the first quarter. Van ECK Associates Corp now owns 2,822 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 388 shares in the last quarter. 92.72% of the stock is currently owned by hedge funds and other institutional investors.

ESNT traded up $0.02 during trading on Tuesday, reaching $42.90. The stock had a trading volume of 554 shares, compared to its average volume of 700,364. The business has a 50-day moving average of $41.48 and a 200-day moving average of $43.40. Essent Group has a one year low of $39.26 and a one year high of $50.17. The stock has a market cap of $4.62 billion, a PE ratio of 5.76, a PEG ratio of 0.57 and a beta of 1.20.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Wednesday, June 1st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, May 31st. This is a boost from Essent Group’s previous quarterly dividend of $0.20. Essent Group’s payout ratio is 11.32%.

About Essent Group (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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