Essent Group (ESNT) Tops Q4 EPS by 1c

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Compass Point Remains Sidelined on Essent Group (ESNT) as Weak Earned Premiums Weigh on EPS

February 16, 2016 9:13 AM EST

Compass Point reiterated a Neutral rating on Essent Group (NYSE: ESNT), and cut the price target to $22.00 (from $25.00), ahead of the company's 4Q earnings report. Core EPS of $0.47 missed Compass' estimate, but was in-line with consensus. The core miss was due to lower earned premiums from lower-than-expected portfolio growth. Management expressed a positive outlook for the industry heading into 2016, and ESNT's market position remains strong. New business volume is expected to be similar to 2015 for the... More