Essent Group (NYSE:ESNT) Announces Earnings Results

Essent Group (NYSE:ESNT) issued its earnings results on Friday. The financial services provider reported $1.58 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.09), Zacks reports. The firm had revenue of $315.00 million during the quarter, compared to analyst estimates of $313.88 million. Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 earnings per share.

Essent Group Trading Down 2.2 %

Shares of ESNT stock traded down $1.30 during trading on Friday, reaching $56.61. 572,393 shares of the company’s stock traded hands, compared to its average volume of 737,477. The company has a market capitalization of $6.01 billion, a P/E ratio of 8.19, a PEG ratio of 2.75 and a beta of 1.11. The firm’s 50-day moving average is $56.12 and its 200 day moving average is $59.14. Essent Group has a 1 year low of $51.69 and a 1 year high of $65.33.

Analyst Upgrades and Downgrades

ESNT has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Essent Group from $67.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Keefe, Bruyette & Woods cut their target price on Essent Group from $75.00 to $72.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group cut their price objective on shares of Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Barclays downgraded shares of Essent Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $69.00 to $58.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada cut their price target on shares of Essent Group from $73.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $62.71.

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.