Enact Holdings Inc reports results for the quarter ended in June - Earnings Summary

Enact Holdings

01/08/2024 04:36

* Enact Holdings Inc  ACT.OQ  reported quarterly adjusted
earnings
of $1.27​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of
$1.04.  The mean expectation of seven analysts for the quarter
was for earnings of 99 cents per share. Wall Street expected
results to range from 90 cents to $1.07 per share.
    * Revenue rose 7.7% to $298.83 million from a year ago;
analysts
expected $298.73 million. 
    * Enact Holdings Inc's reported EPS for the quarter was
$1.16​.
    * The company reported quarterly net income of $183.67
million.
    * Enact Holdings Inc shares had risen by 11.8% this
quarter and
gained 18.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 3.3%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the property &
casualty
insurance peer group is also "buy"

Wall Street's median 12-month price target for Enact Holdings
Inc is $36.00 
This summary was machine generated from LSEG data August 1 at
03:36 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.99           1.27           Beat
 Mar. 31 2024      0.96           1.04           Beat
 Dec. 31 2023      0.92           0.98           Beat
 Sep. 30 2023      0.89           1.02           Beat