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Essent Group (ESNT) to Report Q3 Earnings: What's in Store?
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Essent Group (ESNT - Free Report) is slated to report third-quarter 2019 results on Nov 8. The company delivered a positive earnings surprise in the two reported quarters of 2019.
Factors to Consider
Essent Group’s third-quarter results are likely to have benefited from lower interest rate, improved employment, favorable credit and higher new and existing home sales.
Third-quarter premiums are likely to have increased given solid insurance in force. Higher utilization of EssentEDGE, its risk-based pricing engine, is likely to have added to the upside.
The company estimates the singles cancellation income in third quarter to decline from the strong level experienced in the second quarter. This is based on reinsurance in place and expectation of pricing for new business, it projects average net premium rate to be in the range of 46 to 47 basis points in the second half of 2019.
The Zacks Consensus Estimate for earnings per share is pegged at $1.38, indicating nearly 17% increase from the year-ago period reported figure.
Essent Group Ltd. Price, Consensus and EPS Surprise
Our proven model does not conclusively predict an earnings beat for Essent Group this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But this is not the case as you can see below.
Earnings ESP: Essent Group has an Earnings ESP of 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate is pegged at $1.38. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Essent Group currently carries a Zacks Rank #2.
Stocks to Consider
Some stocks from the finance sector with the apt combination of elements to surpass estimates this reporting cycle are as follows:
Hallmark Financial Services (HALL - Free Report) is set to report third-quarter earnings on Nov 7. It has an Earnings ESP of +3.03% and a Zacks Rank of 3.
NMI Holdings (NMIH - Free Report) is set to report third-quarter earnings on Nov 6. It has an Earnings ESP of +1.64% and a Zacks Rank of 3.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Essent Group (ESNT) to Report Q3 Earnings: What's in Store?
Essent Group (ESNT - Free Report) is slated to report third-quarter 2019 results on Nov 8. The company delivered a positive earnings surprise in the two reported quarters of 2019.
Factors to Consider
Essent Group’s third-quarter results are likely to have benefited from lower interest rate, improved employment, favorable credit and higher new and existing home sales.
Third-quarter premiums are likely to have increased given solid insurance in force. Higher utilization of EssentEDGE, its risk-based pricing engine, is likely to have added to the upside.
The company estimates the singles cancellation income in third quarter to decline from the strong level experienced in the second quarter. This is based on reinsurance in place and expectation of pricing for new business, it projects average net premium rate to be in the range of 46 to 47 basis points in the second half of 2019.
The Zacks Consensus Estimate for earnings per share is pegged at $1.38, indicating nearly 17% increase from the year-ago period reported figure.
Essent Group Ltd. Price, Consensus and EPS Surprise
Essent Group Ltd. price-consensus-eps-surprise-chart | Essent Group Ltd. Quote
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Essent Group this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But this is not the case as you can see below.
Earnings ESP: Essent Group has an Earnings ESP of 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate is pegged at $1.38. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Essent Group currently carries a Zacks Rank #2.
Stocks to Consider
Some stocks from the finance sector with the apt combination of elements to surpass estimates this reporting cycle are as follows:
Physicians Realty Trust (DOC - Free Report) is set to report third-quarter earnings on Nov 6. It has an Earnings ESP of +3.85% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hallmark Financial Services (HALL - Free Report) is set to report third-quarter earnings on Nov 7. It has an Earnings ESP of +3.03% and a Zacks Rank of 3.
NMI Holdings (NMIH - Free Report) is set to report third-quarter earnings on Nov 6. It has an Earnings ESP of +1.64% and a Zacks Rank of 3.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>