Essent Group Ltd. (ESNT) Expected to Announce Earnings of $0.75 Per Share

Equities research analysts forecast that Essent Group Ltd. (NYSE:ESNT) will announce earnings per share (EPS) of $0.75 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Essent Group’s earnings, with the lowest EPS estimate coming in at $0.74 and the highest estimate coming in at $0.76. Essent Group posted earnings of $0.65 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 15.4%. The firm is expected to issue its next earnings results before the market opens on Thursday, November 9th.

On average, analysts expect that Essent Group will report full-year earnings of $3.02 per share for the current year, with EPS estimates ranging from $3.00 to $3.03. For the next financial year, analysts anticipate that the company will post earnings of $3.42 per share, with EPS estimates ranging from $3.27 to $3.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Essent Group.

Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.09. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The company had revenue of $137.61 million during the quarter, compared to analysts’ expectations of $131.99 million. During the same quarter in the previous year, the business earned $0.57 EPS. Essent Group’s revenue was up 27.2% compared to the same quarter last year.

ESNT has been the subject of several research analyst reports. BidaskClub lowered Essent Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Monday, July 10th. BTIG Research upgraded Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, September 12th. Deutsche Bank AG raised their price target on Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods set a $43.00 price target on Essent Group and gave the stock a “hold” rating in a research report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Essent Group has a consensus rating of “Buy” and an average price target of $44.88.

In other Essent Group news, SVP Mary Lourdes Gibbons sold 5,209 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $45.02, for a total value of $234,509.18. Following the sale, the senior vice president now directly owns 252,857 shares in the company, valued at $11,383,622.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of the firm’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $45.01, for a total value of $315,070.00. Following the completion of the sale, the chief financial officer now owns 265,167 shares in the company, valued at $11,935,166.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,363 shares of company stock valued at $1,531,285. 18.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of ESNT. Sei Investments Co. raised its stake in Essent Group by 2.6% in the first quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock valued at $105,000 after buying an additional 74 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new stake in Essent Group in the third quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Essent Group by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock valued at $117,000 after buying an additional 288 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in Essent Group in the second quarter valued at $201,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Essent Group in the second quarter valued at $206,000. Institutional investors own 81.55% of the company’s stock.

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About Essent Group

Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.

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