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Essent Group (ESNT)
NYSE:ESNT
Holding ESNT?
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Earnings Data
Report Date
Feb 07, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.65Last Year’s EPS
$1.64Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 01, 2024
|% Change Since: -10.82%
|Next Earnings Date:Feb 07, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted the company's strong financial performance and strategic initiatives, such as successful reinsurance transactions and maintaining a strong capital position. However, concerns were raised regarding increased provisions for losses, a rising default rate, and potential impacts from recent hurricanes. While the company remains resilient and well-positioned, the lowlights reflect challenges that could affect future performance.Company Guidance
During the third quarter 2024 earnings call for Essent Group Ltd., several key metrics were highlighted. The company reported a net income of $176 million, slightly lower than $178 million a year ago, with a diluted earnings per share of $1.65 compared to $1.66 the previous year. The return on average equity was 13% for the quarter. Essent's U.S. mortgage insurance in force increased to $243 billion, marking a 2% rise year-over-year, with a persistency rate of approximately 87%. The weighted average FICO score of the insurance in force was 746, and the original Loan-to-Value (LTV) ratio averaged at 93%. The default rate on the portfolio was 1.95%, up from 1.71% in the previous quarter. In terms of investments, cash and investments totaled $6.4 billion with a new money yield of nearly 5%, and the annualized yield for investments available for sale was 3.8%. The company's PMIER efficiency ratio stood strong at 186%, with $1.7 billion in excess available assets. Additionally, Essent completed its 10th Radnor Re ILN transaction, securing $363 million of excess of loss coverage.Strong Financial Performance
Reported net income of $176 million for Q3 2024, nearly stable compared to $178 million a year ago. Diluted EPS was $1.65, maintaining a strong return on average equity of 13%.
Increased Insurance in Force
U.S. mortgage insurance in force reached $243 billion, marking a 2% increase from the previous year.
High Persistency Rate
Maintained a persistency rate of approximately 87%, supporting elevated levels of mortgage rates.
Successful Radnor Re ILN Transaction
Closed 10th Radnor Re ILN transaction, securing $363 million of fully collateralized excess of loss coverage with strong investor demand.
Capital and Liquidity Strength
Holding company liquidity remains strong with a new $500 million unsecured revolving credit facility and a debt-to-capital ratio of 8.1%.
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ESNT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ESNT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 01, 2024 | $59.72 | $53.51 | -10.40% |
| Aug 02, 2024 | $60.68 | $59.40 | -2.11% |
| May 03, 2024 | $53.51 | $53.77 | +0.49% |
| Feb 09, 2024 | $51.90 | $50.76 | -2.20% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Essent Group (ESNT) report earnings?
Essent Group (ESNT) is schdueled to report earning on Feb 07, 2025, TBA Not Confirmed.
What is Essent Group (ESNT) earnings time?
Essent Group (ESNT) earnings time is at Feb 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ESNT EPS forecast?
ESNT EPS forecast for the fiscal quarter 2024 (Q4) is $1.65.
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