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

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

Goosehead Insurance Stock Up 12.6 %

Shares of GSHD traded up $12.10 during mid-day trading on Thursday, hitting $108.13. 642,961 shares of the company's stock were exchanged, compared to its average volume of 293,265. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.13 and a quick ratio of 1.14. Goosehead Insurance has a 52 week low of $50.47 and a 52 week high of $108.16. The company has a market cap of $4.11 billion, a PE ratio of 174.40, a P/E/G ratio of 4.72 and a beta of 1.35. The company has a 50-day simple moving average of $88.55 and a 200 day simple moving average of $72.76.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GSHD. Truist Financial lifted their price target on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. BMO Capital Markets lowered Goosehead Insurance from an "outperform" rating to a "market perform" rating and set a $90.00 target price on the stock. in a report on Thursday, August 22nd. JMP Securities increased their price target on Goosehead Insurance from $100.00 to $115.00 and gave the stock a "market outperform" rating in a report on Thursday. TD Cowen cut Goosehead Insurance from a "buy" rating to a "hold" rating and cut their price objective for the company from $98.00 to $94.00 in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their target price on Goosehead Insurance from $65.00 to $77.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. One equities 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 company's stock. According to MarketBeat, Goosehead Insurance has an average rating of "Hold" and an average target price of $89.40.

Insider Transactions at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 2,167 shares of Goosehead Insurance stock in a transaction on Monday, September 30th. The shares were sold at an average price of $90.09, for a total value of $195,225.03. Following the sale, the insider now directly 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 Securities & Exchange Commission, which is accessible through this link. In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 2,167 shares of the firm'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 value of $195,225.03. Following the completion of the transaction, the insider now directly owns 5,000 shares in the company, valued at $450,450. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark Evan Jones sold 8,977 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $82.33, for a total value of $739,076.41. Following the transaction, the chairman now directly owns 39,451 shares in the company, valued at $3,248,000.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,798 shares of company stock valued at $6,310,613 over the last 90 days. 48.35% of the stock is owned by corporate insiders.

About Goosehead Insurance

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.

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