On Jan. 06, McAlee Lawrence E Jr divested U.S. $656,004 in shares of Essent Group Ltd.. The SVP, CFO sold 14,523 shares at a price per share of $45.17. The transaction decreased this specific insider’s holdings to 169,679 shares worth around $8.13 million at present.
Goldman launched its Essent Group Ltd. [ESNT] rating to the equivalent of a Buy and assigned the price target of $46, in a research note dated September 21, 2020. That figure represents around a -4.17% premium from where the company’s shares closed on Friday. Some new analysts also started their coverage, with Goldman’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in late September. Meanwhile, Keefe Bruyette had lowered its rating on ESNT to “Mkt perform” from the earlier “an Outperform”, in a research note produced for clients June 09, 2020. In addition, there was an upgrade from MKM Partners on March 11, 2020. The rater changed ESNT from “a Neutral” to “a Buy”.
Is Essent Group Ltd. [NYSE:ESNT] a Good Buy Right Now?
It should be noted that ESNT technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 64% Buy in the last week and compares with 88% Buy in the past month. Data from Essent Group Ltd.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.74 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.75 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.7 million shares.
ESNT Price Performance
On Wall Street, Essent Group Ltd. [NYSE:ESNT] finished Friday’s session up 1.78% at $47.92. The stock went up to $48.02 at the same session while its lowest single day price was $46.515. In the last five days, it saw a rise of about 10.93%, Essent Group Ltd. shares gained by almost 10.93% since the beginning of the year. However, the share price has dropped to as low as -9.57% below its one year high. On 01/08/21, the company shares recorded $48.02, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $41.24. The company’s shares have declined by -5.84% in the past year. The 50-day SMA achieved is $43.93 while the 200-day SMA is $36.64. Volume gained to 1.2 million from 0.72 million in the previous session.
Essent Group Ltd. [ESNT] Valuation Measures
Notably, Essent Group Ltd. [ESNT] stock can be classified as a good candidate in the listing of underestimated low-priced Mortgage Finance companies to purchase soonest possible with the prevailing 12-month PE ratio of 11.21. The measure means the stock is exchanging at a discount as compared to the 11.86x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 5.65 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.43 which means ESNT serve an attractive investment opportunity compared to its competitors.
ESNT Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 46.95 level, and in case of violation of this particular level, it will cause more drop to 45.98 level. On the upper level, 48.99 is still the key resistance. The stock may increase to the subsequent resistance at 48.45. The Relative Strength Index (RSI) pinned on the 14-day chart is 65.81, implying a neutral technical stance while the MACD stands at 2.64, meaning price will increase in the next trading period. Percent R indicator moved to 1.47%, implying bullish price movement. Stochastic %K at 92.85% suggest selling the stock.
What is the short interest in Essent Group Ltd.?
Short interest in the Essent Group Ltd. stock has surged, increasing by 40000.0 shares to total 5.13 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 5.17 million, data from Yahoo Finance shows. The decrease of -0.78% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.68% of the overall float for the stock.
Essent Group Ltd.’s Biggest Shareholders: Who Owns Essent Group Ltd. [ESNT]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 11,226,946 shares or roughly 9.99% of the outstanding ESNT shares. This means their shares have increased by 1,696,708 from the 11,226,946 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $421,799,953. Details in the latest 13F filings reveal that Fidelity Management & Research Co acquired their 1.72% stake valued at $297,108,649 while Goldman Sachs & Co. LLC added theirs at $211,867,572. During the last quarter, Fidelity Management & Research Co raised 114,256 of its shares in Essent Group Ltd. while Goldman Sachs & Co. LLC bought 132,499 shares. The SSgA Funds Management, Inc.’s holdings currently number 3,958,018 shares at $189668222.56. According to the firm’s last 13F report, Cooke & Bieler LP shares in the company at filing stood at 3,627,420 shares, roughly $159,098,641.
ESNT Earnings Forecast For The Current Quarter
Essent Group Ltd. [ESNT] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $251.9M and an earnings per share of $1.19 for Dec 2020. Looking further ahead, the company is expected to report revenue of $259.32M at an EPS of $1.24 for Mar 2021. The estimates represent upside of 12.90% and 35.00% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
ESNT Earnings Estimates For The Current Year
For the financial year, Essent Group Ltd. [NYSE:ESNT] is expected to bring in revenue of $959.5M. The returns are nearly $91.93 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 3.95, lower than that of FY19 by -$1.71. Estimates put this year’s earnings growth at -30.20%, 34.90% for the next, and at an annual 0.62% over the next 5-year period. As for sales, forecasts are for an increase of 10.60% in the current fiscal year and a further 12.90% over the following year.
What are analyst thoughts on Essent Group Ltd.?
Looking forward to the Essent Group Ltd. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Essent Group Ltd. stock at $53.00 within the next 12 months, which represents almost 9.58 per cent growth from its previous closing price of $47.92. The highest analysts’ target for Essent Group Ltd. stock projections is $64.00 and the lowest one is $44.00. Still, 13 analysts sharing their consensus rating for ESNT stock in 2021 agree that it is a Buy.