Brokerages Expect Essent Group Ltd (ESNT) Will Post Earnings of $1.29 Per Share

Wall Street analysts expect Essent Group Ltd (NYSE:ESNT) to announce earnings of $1.29 per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Essent Group’s earnings, with the highest EPS estimate coming in at $1.35 and the lowest estimate coming in at $1.24. Essent Group posted earnings per share of $1.13 in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.2%. The company is scheduled to issue its next earnings report before the market opens on Friday, May 3rd.

On average, analysts expect that Essent Group will report full-year earnings of $5.22 per share for the current financial year, with EPS estimates ranging from $5.15 to $5.32. For the next fiscal year, analysts anticipate that the company will post earnings of $5.60 per share, with EPS estimates ranging from $5.41 to $5.75. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Essent Group.

Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, February 8th. The financial services provider reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.16. Essent Group had a return on equity of 21.90% and a net margin of 64.97%. The company had revenue of $193.10 million during the quarter, compared to analyst estimates of $189.76 million. During the same quarter last year, the company earned $0.79 EPS. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis.

A number of research analysts recently weighed in on ESNT shares. ValuEngine raised Essent Group from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Zacks Investment Research downgraded Essent Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Essent Group currently has an average rating of “Hold” and an average price target of $46.00.

ESNT stock traded down $0.16 on Monday, reaching $45.09. 961,178 shares of the company traded hands, compared to its average volume of 584,201. Essent Group has a one year low of $31.08 and a one year high of $47.94. The firm has a market cap of $4.43 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.87 and a beta of 1.49.

In other news, SVP Vijay Bhasin sold 41,007 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $43.32, for a total value of $1,776,423.24. Following the transaction, the senior vice president now directly owns 239,617 shares in the company, valued at approximately $10,380,208.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Mary Lourdes Gibbons sold 9,000 shares of the firm’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $41.00, for a total value of $369,000.00. Following the completion of the transaction, the senior vice president now owns 217,412 shares in the company, valued at $8,913,892. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,322 shares of company stock worth $6,164,131. Company insiders own 2.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ESNT. JPMorgan Chase & Co. boosted its stake in shares of Essent Group by 14.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,251 shares of the financial services provider’s stock worth $985,000 after buying an additional 2,742 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Essent Group by 121.6% during the third quarter. Bank of New York Mellon Corp now owns 993,489 shares of the financial services provider’s stock valued at $43,963,000 after purchasing an additional 545,077 shares in the last quarter. Martingale Asset Management L P lifted its position in Essent Group by 8.3% during the third quarter. Martingale Asset Management L P now owns 176,492 shares of the financial services provider’s stock valued at $7,810,000 after purchasing an additional 13,505 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Essent Group by 5.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,354,574 shares of the financial services provider’s stock valued at $59,936,000 after purchasing an additional 65,391 shares in the last quarter. Finally, Capital International Investors purchased a new position in Essent Group during the third quarter valued at $4,204,000. Hedge funds and other institutional investors own 92.12% of the company’s stock.

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. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

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