An Important Check-Up On Essent Group Ltd (NYSE: ESNT)

Essent Group Ltd (ESNT) concluded trading on Thursday at a closing price of $59.51, with 0.46 million shares of worth about $27.23 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 24.34% during that period and on March 28, 2024 the price saw a gain of about 0.80%. Currently the company’s common shares owned by public are about 106.60M shares, out of which, 103.51M shares are available for trading.

However, the stock later moved at a day high price of 59.90, or with a gain of 0.80%. Stock saw a price change of 1.78% in past 5 days and over the past one month there was a price change of 11.46%. Year-to-date (YTD), ESNT shares are showing a performance of 12.84% which increased to 50.96% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $38.84 but also hit the highest price of $59.10 during that period. The average intraday trading volume for Essent Group Ltd shares is 535.04K. The stock is currently trading 6.93% above its 20-day simple moving average (SMA20), while that difference is up 9.26% for SMA50 and it goes to 17.92% higher than SMA200.

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Essent Group Ltd (NYSE: ESNT) currently have 106.60M outstanding shares and institutions hold larger chunk of about 94.07% of that.

The stock has a current market capitalization of $6.36B and its 3Y-monthly beta is at 1.04. PE ratio of stock for trailing 12 months is 9.15, while it has posted earnings per share of $6.50 in the same period. Its PEG reads 0.92 while making debt-to-equity ratio of 0.09. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ESNT, volatility over the week remained 1.83% while standing at 2.12% over the month.

Analysts are in expectations that Essent Group Ltd (ESNT) stock would likely to be making an EPS of $1.6 in the current quarter, while forecast for next quarter EPS is $1.67 and it is $7.05 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.54 which is $1.68 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.59 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1.79% while it is estimated to increase by 6.53% in next year. EPS is likely to grow at an annualized rate of 10.00% for next 5-years, compared to annual growth of 6.38% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on December 06, 2023 offering a Neutral rating for the stock and assigned a target price of $54 to it. Coverage by Barclays stated Essent Group Ltd (ESNT) stock as an Overweight in their note to investors on November 15, 2023, suggesting a price target of $60 for the stock. On June 13, 2023, Keefe Bruyette Downgrade their recommendations, while on January 06, 2023, Barclays Downgrade their ratings for the stock with a price target of $43. Stock get a Neutral rating from Goldman on January 05, 2023.

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