Essent Group (NYSE:ESNT - Get Free Report) posted its quarterly earnings results on Friday. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.14, Briefing.com reports. The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $298.69 million. Essent Group had a return on equity of 14.44% and a net margin of 62.75%. Essent Group's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 EPS.
Essent Group Price Performance
Shares of ESNT traded up $0.26 during mid-day trading on Friday, reaching $54.54. The company's stock had a trading volume of 555,660 shares, compared to its average volume of 491,395. The company's 50 day moving average is $55.14 and its 200 day moving average is $52.49. The stock has a market cap of $5.83 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 0.83 and a beta of 1.05. Essent Group has a 12-month low of $40.33 and a 12-month high of $59.90.
Essent Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.05%. Essent Group's payout ratio is currently 17.23%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on ESNT. StockNews.com lowered Essent Group from a "buy" rating to a "hold" rating in a research report on Monday, March 4th. Royal Bank of Canada increased their price target on Essent Group from $56.00 to $58.00 and gave the company an "outperform" rating in a research report on Monday, February 12th. JPMorgan Chase & Co. lowered Essent Group from an "overweight" rating to a "neutral" rating and increased their price target for the company from $58.00 to $61.00 in a research report on Wednesday, April 3rd. Finally, Keefe, Bruyette & Woods increased their price target on Essent Group from $62.00 to $64.00 and gave the company a "market perform" rating in a research report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Essent Group has a consensus rating of "Hold" and an average price target of $58.38.
Get Our Latest Stock Analysis on ESNT
Essent Group Company Profile
(
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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.
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