Q4 Earnings Forecast for Essent Group Issued By Roth Capital

Essent Group Ltd. (NYSE:ESNT - Free Report) - Analysts at Roth Capital decreased their Q4 2024 earnings per share (EPS) estimates for shares of Essent Group in a research report issued on Monday, November 4th. Roth Capital analyst H. Fong now forecasts that the financial services provider will earn $1.68 per share for the quarter, down from their prior 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.

Several other research firms have also recently commented on ESNT. Barclays lowered their target price on shares of Essent Group from $72.00 to $69.00 and set an "overweight" rating for the company in a research note on Monday. The Goldman Sachs Group dropped their target price on Essent Group from $68.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday. Royal Bank of Canada cut their price objective on shares of Essent Group from $73.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday. Keefe, Bruyette & Woods raised shares of Essent Group from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $65.00 to $70.00 in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Essent Group from $68.00 to $67.00 and set a "neutral" rating for the company in a research report on Monday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Essent Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Essent Group Trading Down 0.9 %

Shares of NYSE ESNT traded down $0.49 during midday trading on Tuesday, reaching $53.62. 1,519,394 shares of the stock were exchanged, compared to its average volume of 511,584. The stock has a 50 day moving average price of $62.76 and a 200-day moving average price of $59.36. The company has a market capitalization of $5.70 billion, a P/E ratio of 7.72, a P/E/G ratio of 1.33 and a beta of 1.12. Essent Group has a 52-week low of $47.56 and a 52-week high of $65.33.

Essent Group (NYSE:ESNT - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The financial services provider reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.73 by ($0.08). Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $316.80 million. During the same period in the previous year, the business earned $1.66 EPS. The firm's revenue was up 969.2% on a year-over-year basis.

Institutional Trading of Essent Group

Several institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its holdings in Essent Group by 726.8% during the 3rd quarter. UMB Bank n.a. now owns 463 shares of the financial services provider's stock worth $30,000 after acquiring an additional 407 shares in the last quarter. Advisors Asset Management Inc. bought a new position in shares of Essent Group during the first quarter worth about $32,000. Harbor Capital Advisors Inc. acquired a new position in Essent Group in the third quarter worth about $32,000. Headlands Technologies LLC bought a new stake in Essent Group in the second quarter valued at about $47,000. Finally, Quarry LP raised its stake in Essent Group by 167.1% during the second quarter. Quarry LP now owns 836 shares of the financial services provider's stock valued at $47,000 after buying an additional 523 shares in the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total value of $127,180.00. Following the transaction, the chief financial officer now owns 25,416 shares in the company, valued at $1,616,203.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.20% of the company's stock.

Essent Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, December 2nd will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, December 2nd. Essent Group's payout ratio is 16.23%.

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.