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

In a report published Monday, Keefe, Bruyette & Woods analyst Bose George upgraded the rating on Essent Group Ltd. 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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesAnalyst RatingsBose GeorgeKeefe Bruyette & Woods
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!