Compass Point Reiterates a 'Neutral' on Radian Group (RDN); Cutting Numbers and Awaiting More Clarity
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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
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Compass Point reiterates a 'Neutral' on Radian Group (NYSE: RDN) price target lowered from $5 to $3.
Analyst, Chris Gamaitoni, said, "The company reported a core EPS loss of $1.17 compared to our estimate for a loss of $0.72 and a core MI loss of $0.67 compared to our estimate of $0.77. Credit trends were generally in-line with expectations during the quarter, but further disclosure surrounding the level of pending claims in their delinquent inventory make us more negative on reserving for RDN than our prior view. Coupling this new disclosure and guidance for increased claims, we believe RDN will need to provision more in 2012 and 2013 than we had previously estimated. As a result, we are lowering our 2012Q2 EPS from ($0.31) to ($0.33), our 2012 EPS from ($1.88) to ($2.32), and our 2013 EPS from ($0.41) to ($1.22)."
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 $2.89 yesterday.
Analyst, Chris Gamaitoni, said, "The company reported a core EPS loss of $1.17 compared to our estimate for a loss of $0.72 and a core MI loss of $0.67 compared to our estimate of $0.77. Credit trends were generally in-line with expectations during the quarter, but further disclosure surrounding the level of pending claims in their delinquent inventory make us more negative on reserving for RDN than our prior view. Coupling this new disclosure and guidance for increased claims, we believe RDN will need to provision more in 2012 and 2013 than we had previously estimated. As a result, we are lowering our 2012Q2 EPS from ($0.31) to ($0.33), our 2012 EPS from ($1.88) to ($2.32), and our 2013 EPS from ($0.41) to ($1.22)."
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 $2.89 yesterday.
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