Compass Point Maintains a 'Neutral' on Radian Group (RDN); Cutting Estimates as Denials Continue to Increase
Tweet
Share
E-mailGet Alerts RDN Hot Sheet
Price: $36.59 -0.19%
Rating Summary:
11 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Compass Point maintains a 'Neutral' on Radian Group (NYSE: RDN) price target of $5.00.
Analyst, Chris Gamaitoni, said, "New defaults were in-line with expectations with cures being lower than anticipated. Additionally, RDN continues to aggressively rescind and deny MI payments which we believe are driven by denials. As previously stated, denials are largely reinstated which prolongs the recovery period for RDN. We continue to believe this is a significant concern and outside of other industry participants practices."
Gamaitoni lowers Q1 loss from (0.64) to (0.72), FY12 from (1.44) to (1.88), and FY13 from (0.01) to (0.41) on concerns over quality of capital, usage of denials outside industry practices, and the potential for a future unexpected large defaults. Gamaitoni suggests investors stay on the sidelines.
For an analyst ratings summary and ratings history on Radian Group click here. For more ratings news on Radian Group click here.
Shares of Radian Group closed at $3.66 yesterday.
Analyst, Chris Gamaitoni, said, "New defaults were in-line with expectations with cures being lower than anticipated. Additionally, RDN continues to aggressively rescind and deny MI payments which we believe are driven by denials. As previously stated, denials are largely reinstated which prolongs the recovery period for RDN. We continue to believe this is a significant concern and outside of other industry participants practices."
Gamaitoni lowers Q1 loss from (0.64) to (0.72), FY12 from (1.44) to (1.88), and FY13 from (0.01) to (0.41) on concerns over quality of capital, usage of denials outside industry practices, and the potential for a future unexpected large defaults. Gamaitoni suggests investors stay on the sidelines.
For an analyst ratings summary and ratings history on Radian Group click here. For more ratings news on Radian Group click here.
Shares of Radian Group closed at $3.66 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS
- Benchmark Reiterates Buy Rating on Rank One Computing (ROC)
- DA Davidson Starts Everus (ECG) at Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
