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UPDATE: Keefe, Bruyette & Woods Upgrades Essent Group Ltd. On Valuation

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In a report published Monday, Keefe, Bruyette & Woods analyst Bose George upgraded the rating on Essent Group Ltd. (NYSE: ESNT) from Market Perform to Outperform, but lowered the price target from $26.00 to $25.00.

In the report, Keefe, Bruyette & Woods noted, “ESNT reported GAAP EPS of $0.18 and operating EPS of $0.17. The slight miss to us reflected a modestly lower premium margin than we were forecasting. Pre-tax earnings of $23.5 million came in slightly below our $24.1 million estimate. Quarter-end adjusted book value was $8.51, up from $8.32. We upgrade the shares to Outperform on valuation, while we leave our forward 2014 and 2015 EPS estimates unchanged. We trim our price target to $25 from $26.”

Essent Group Ltd. closed on Friday at $20.00.

Latest Ratings for ESNT

DateFirmActionFromTo
Dec 2014Keefe Bruyette & WoodsDowngradesOutperformMarket Perform
Nov 2014JP MorganMaintainsOverweight
Nov 2014Keefe Bruyette & WoodsMaintainsOutperform

View More Analyst Ratings for ESNT
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Posted-In: Bose George Keefe Bruyette & WoodsAnalyst Color Upgrades Analyst Ratings

 

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