Goosehead Insurance (NASDAQ:GSHD) Releases Earnings Results, Beats Estimates By $0.05 EPS

Goosehead Insurance (NASDAQ:GSHD) released its quarterly earnings data on Wednesday. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05, Briefing.com reports. Goosehead Insurance had a return on equity of 244.15% and a net margin of 6.71%. The firm had revenue of $78.04 million for the quarter, compared to the consensus estimate of $80.54 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Price Performance

Shares of NASDAQ GSHD opened at $108.59 on Friday. Goosehead Insurance has a 1 year low of $50.47 and a 1 year high of $109.95. The stock has a market capitalization of $4.01 billion, a P/E ratio of 152.94, a P/E/G ratio of 5.00 and a beta of 1.35. The company’s 50-day moving average is $89.01 and its 200 day moving average is $73.10. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.13 and a quick ratio of 1.14.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 2,167 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $90.09, for a total transaction of $195,225.03. Following the transaction, the insider now owns 5,000 shares in the company, valued at approximately $450,450. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Patrick Ryan Langston sold 2,167 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $90.09, for a total transaction of $195,225.03. Following the sale, the insider now owns 5,000 shares in the company, valued at approximately $450,450. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark Evan Jones sold 8,977 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $82.33, for a total transaction of $739,076.41. Following the completion of the sale, the chairman now directly owns 39,451 shares in the company, valued at $3,248,000.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,798 shares of company stock worth $6,310,613 over the last three months. Company insiders own 48.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $84.00 target price (down from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price target on shares of Goosehead Insurance from $65.00 to $77.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Piper Sandler boosted their price objective on shares of Goosehead Insurance from $94.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, JMP Securities increased their target price on shares of Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.40.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner’s, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.