Essent Group (ESNT) Beats Q2 Earnings and Revenue Estimates

Core Viewpoint - Essent Group (ESNT) reported quarterly earnings of $1.91 per share, exceeding the Zacks Consensus Estimate of $1.68 per share, and showing an increase from $1.61 per share a year ago, representing an earnings surprise of 13.69% [1] Financial Performance - The company posted revenues of $312.94 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.79%, and up from $260.13 million year-over-year [2] - Over the last four quarters, Essent Group has consistently exceeded consensus EPS estimates and revenue estimates [2] Stock Performance - Essent Group shares have increased approximately 16.1% since the beginning of the year, outperforming the S&P 500's gain of 14.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.66 on revenues of $314.42 million, and for the current fiscal year, it is $6.69 on revenues of $1.24 billion [7] - The estimate revisions trend for Essent Group is mixed, which may change following the recent earnings report [6] Industry Context - The Financial - Mortgage & Related Services industry is currently ranked in the bottom 21% of over 250 Zacks industries, suggesting potential challenges for stocks within this sector [8]