Essent Group (NYSE:ESNT) Posts Quarterly Earnings Results

Essent Group (NYSE:ESNT) posted its quarterly 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 business had revenue of $315.00 million for the quarter, compared to analysts’ expectations of $313.88 million. Essent Group had a return on equity of 13.81% and a net margin of 60.15%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $1.64 earnings per share.

Essent Group Stock Down 2.2 %

Shares of NYSE ESNT traded down $1.30 on Friday, reaching $56.61. 572,393 shares of the company’s stock traded hands, compared to its average volume of 737,477. Essent Group has a 12 month low of $51.69 and a 12 month high of $65.33. The business’s 50 day simple moving average is $56.12 and its two-hundred day simple moving average is $59.14. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 2.75 and a beta of 1.11.

Analyst Ratings Changes

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