Essent Group Ltd. reported lower-than-expected fourth-quarter results. However, shares of the private mortgage insurance services provider closed 1.9% higher on Friday as its CEO, Mark A. Casale, remains optimistic about 2021. Casale said, “During 2020, we were also pleased with housing’s resilience, which remains the bright spot in the economy entering 2021 as supply-demand imbalances and favorable first-time home buying trends persist which are positive for our franchise.” Essent Group (ESNT) reported adjusted earnings of $1.10 per share in the fourth quarter, which missed analysts’ estimates of $1.22 per share and declined 26.2% year-over-year. Its revenues of $247.2 million grew 8.1% year-over-year but lagged the consensus estimates of $252.1 million.
https://www.tipranks.com/news/essent-group-misses-4q-earnings-estimates-street-stays-bullish
Essent (NYSE:ESNT)
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