Essent Group Ltd [ESNT] stock is trading at $55.65, up 3.13%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The ESNT shares have gain 3.92% over the last week, with a monthly amount glided 5.18%, and seem to be holding up well over a long-time horizon.
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On 9, February 2024, Essent Group Ltd. Announces Fourth Quarter & Full Year 2023 Results and Increases Quarterly Dividend. In a post published today on Yahoo Finance, Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended December 31, 2023 of $175.4 million or $1.64 per diluted share, compared to $147.4 million or $1.37 per diluted share for the quarter ended December 31, 2022. For the full year 2023, net income was $696.4 million or $6.50 per diluted share, compared to $831.4 million or $7.72 per diluted share for 2022.
From an analyst’s perspective:
Essent Group Ltd [NYSE: ESNT] stock has seen the most recent analyst activity on December 06, 2023, when UBS initiated its Neutral rating and assigned the stock a price target of $54. Previously, Barclays started tracking the stock with Overweight rating on November 15, 2023, and set its price target to $60. On June 13, 2023, downgrade downgraded it’s rating to Mkt Perform but maintained its price target of $50 on the stock. Barclays downgraded its rating to a Equal Weight and decreased its price target to $43 on January 06, 2023. Goldman downgraded its rating to a Neutral but $44 remained the price target by the analyst firm on January 05, 2023. JP Morgan upgraded its rating to Overweight for this stock on April 11, 2022, but kept the price target unchanged to $47. In a note dated December 13, 2021, Keefe Bruyette upgraded an Outperform rating on this stock but restated the target price of $51.
Essent Group Ltd [ESNT] stock has fluctuated between $36.53 and $56.45 over the past year. Currently, Wall Street analysts expect the stock to reach $49 within the next 12 months. Essent Group Ltd [NYSE: ESNT] shares were valued at $55.65 at the most recent close of the market. An investor can expect a potential drop of -11.95% based on the average ESNT price forecast.
Analyzing the ESNT fundamentals
Essent Group Ltd [NYSE:ESNT] reported sales of 1.09B for the trailing twelve months, which represents a growth of 27.13%. Gross Profit Margin for this corporation currently stands at 0.87% with Operating Profit Margin at 0.55%, Pretax Profit Margin comes in at 0.74%, and Net Profit Margin reading is 0.62%. To continue investigating profitability, this company’s Return on Assets is posted at 0.11, Equity is 0.14 and Total Capital is 0.1. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.08.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 54.30 points at the first support level, and at 52.94 for the second support level. However, for the 1st resistance point, the stock is sitting at 56.37, and for the 2nd resistance point, it is at 57.08.
Essent Group Ltd [ESNT] reported earnings per share of $1.64 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.59/share, meaning a difference of $0.05 and a surprise factor of 3.10%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.66 per share as compared to estimates of $1.57 per share, a difference of $0.09 representing a surprise of 5.70%.
Ratios To Look Out For
For context, Essent Group Ltd’s Current Ratio is 6.74. Considering the valuation of this stock, the price to sales ratio is 5.45, the price to book ratio is 1.16 and price to earnings (TTM) ratio is 8.56.
Transactions by insiders
Recent insider trading involved Bhasin Vijay, SVP and Chief Risk Officer, that happened on Jan 19 ’24 when 12925.0 shares were sold. SVP and Chief Legal Officer, Gibbons Mary Lourdes completed a deal on Jan 19 ’24 to sell 5000.0 shares. Meanwhile, SVP and Chief Legal Officer Gibbons Mary Lourdes sold 8355.0 shares on Dec 14 ’23.
