Essent Group (ESNT) Hits New Lifetime High Today

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Essent Group ( ESNT) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Essent Group as such a stock due to the following factors:

  • ESNT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $20.5 million.
  • ESNT has traded 59,999 shares today.
  • ESNT is trading at a new lifetime high.

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More details on ESNT:

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. ESNT has a PE ratio of 22. Currently there are 4 analysts that rate Essent Group a buy, no analysts rate it a sell, and 2 rate it a hold.

The average volume for Essent Group has been 514,000 shares per day over the past 30 days. Essent Group has a market cap of $2.5 billion and is part of the financial sector and real estate industry. Shares are up 6.6% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Essent Group as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and expanding profit margins. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good.

Highlights from the ratings report include:
  • ESNT's very impressive revenue growth greatly exceeded the industry average of 9.0%. Since the same quarter one year prior, revenues leaped by 67.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Compared to other companies in the Thrifts & Mortgage Finance industry and the overall market on the basis of return on equity, ESSENT GROUP LTD has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
  • ESSENT GROUP LTD reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, ESSENT GROUP LTD increased its bottom line by earning $1.03 versus $0.42 in the prior year. This year, the market expects an improvement in earnings ($1.68 versus $1.03).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Thrifts & Mortgage Finance industry. The net income increased by 132.2% when compared to the same quarter one year prior, rising from $15.01 million to $34.84 million.

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