Q4 EPS Estimates for Essent Group Reduced by Roth Capital

Essent Group Ltd. (NYSE:ESNT) – Investment analysts at Roth Capital dropped their Q4 2024 EPS estimates for Essent Group in a research note issued to investors on Monday, November 4th. Roth Capital analyst H. Fong now expects that the financial services provider will post earnings of $1.68 per share for the quarter, down from their previous estimate of $1.72. The consensus estimate for Essent Group’s current full-year earnings is $7.02 per share. Roth Capital also issued estimates for Essent Group’s Q1 2025 earnings at $1.68 EPS, Q2 2025 earnings at $1.72 EPS, Q3 2025 earnings at $1.75 EPS and FY2025 earnings at $6.90 EPS.

Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, November 1st. The financial services provider reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.05). The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $316.80 million. Essent Group had a return on equity of 14.40% and a net margin of 61.31%. The business’s revenue for the quarter was up 969.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.66 EPS.

Several other equities research analysts also recently weighed in on the stock. BTIG Research upped their price objective on shares of Essent Group from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Royal Bank of Canada reduced their price objective on shares of Essent Group from $73.00 to $67.00 and set an “outperform” rating for the company in a report on Monday. JPMorgan Chase & Co. cut their price target on shares of Essent Group from $68.00 to $67.00 and set a “neutral” rating for the company in a report on Monday. Keefe, Bruyette & Woods raised shares of Essent Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $65.00 to $70.00 in a report on Monday, August 5th. Finally, Barclays cut their price target on shares of Essent Group from $72.00 to $69.00 and set an “overweight” rating for the company in a report on Monday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Essent Group presently has a consensus rating of “Moderate Buy” and an average price target of $65.83.

Essent Group Stock Up 0.6 %

ESNT stock opened at $54.11 on Tuesday. The company has a market capitalization of $5.75 billion, a P/E ratio of 7.83, a PEG ratio of 1.48 and a beta of 1.12. The company has a 50-day simple moving average of $62.76 and a 200 day simple moving average of $59.36. Essent Group has a fifty-two week low of $47.56 and a fifty-two week high of $65.33.

Essent Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.12 annualized dividend and a yield of 2.07%. Essent Group’s payout ratio is presently 16.21%.

Insiders Place Their Bets

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total transaction of $127,180.00. Following the sale, the chief financial officer now owns 25,416 shares in the company, valued at approximately $1,616,203.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Essent Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Diversified Trust Co acquired a new stake in Essent Group during the 2nd quarter worth about $725,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Essent Group by 38.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 177,127 shares of the financial services provider’s stock valued at $10,542,000 after purchasing an additional 49,393 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Essent Group in the 1st quarter valued at about $780,000. Empowered Funds LLC acquired a new position in shares of Essent Group in the 1st quarter valued at about $977,000. Finally, Vanguard Group Inc. increased its holdings in shares of Essent Group by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 11,917,819 shares of the financial services provider’s stock valued at $709,229,000 after purchasing an additional 440,385 shares during the period. Institutional investors and hedge funds own 93.00% 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. 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.