$0.65 EPS Expected for Radian Group Inc (RDN) This Quarter

Brokerages expect that Radian Group Inc (NYSE:RDN) will post $0.65 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Radian Group’s earnings. Radian Group reported earnings of $0.51 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 27.5%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 7th.

According to Zacks, analysts expect that Radian Group will report full year earnings of $2.61 per share for the current fiscal year, with EPS estimates ranging from $2.55 to $2.64. For the next fiscal year, analysts forecast that the business will post earnings of $2.74 per share, with EPS estimates ranging from $2.65 to $2.86. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Radian Group.

Radian Group (NYSE:RDN) last posted its earnings results on Wednesday, October 31st. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.08. Radian Group had a return on equity of 17.71% and a net margin of 37.56%. The firm had revenue of $330.70 million for the quarter, compared to analyst estimates of $334.59 million. During the same quarter in the prior year, the company earned $0.46 EPS. Radian Group’s revenue was up 6.0% on a year-over-year basis.

Several equities analysts recently issued reports on RDN shares. Bank of America increased their target price on Radian Group from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $21.00 price target on shares of Radian Group in a research report on Friday, July 27th. Compass Point set a $26.00 price target on Radian Group and gave the company a “buy” rating in a research report on Thursday. ValuEngine lowered Radian Group from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Zacks Investment Research raised Radian Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $23.36.

Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new stake in Radian Group in the 3rd quarter valued at about $106,000. Moneta Group Investment Advisors LLC raised its position in shares of Radian Group by 102.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 8,615 shares of the insurance provider’s stock worth $140,000 after acquiring an additional 4,350 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Radian Group during the 2nd quarter worth about $151,000. Quantum Capital Management acquired a new stake in shares of Radian Group during the 2nd quarter worth about $179,000. Finally, Creative Planning acquired a new stake in shares of Radian Group during the 3rd quarter worth about $229,000. 91.34% of the stock is currently owned by institutional investors.

RDN traded down $0.33 during mid-day trading on Friday, hitting $18.98. 1,131,597 shares of the stock were exchanged, compared to its average volume of 1,103,495. Radian Group has a 1-year low of $14.06 and a 1-year high of $23.49. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 1.45 and a beta of 1.45.

Radian Group announced that its board has initiated a share repurchase plan on Thursday, August 16th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About Radian Group

Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.

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