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

Enact Holdings

02/11/2023 16:15

* Enact Holdings Inc  ACT.OQ  reported quarterly adjusted
earnings
of $1.02​​ per share for the quarter ended in September, lower
than the same quarter last year, when the company reported EPS
of $1.17.  The mean expectation of seven analysts for the
quarter was for earnings of 89 cents per share. Wall Street
expected results to range from 80 cents to 97 cents per share.
    * Revenue rose 8.7% to $299.04 million from a year ago;
analysts
expected $291.41 million. 
    * Enact Holdings Inc's reported EPS for the quarter was
$1.02​.
    * The company reported quarterly net income of $164.2
million.
    * Enact Holdings Inc shares had risen by 1.5% this
quarter and
gained 14.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.5%
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 $30.00 
This summary was machine generated from LSEG data November 2 at
04:15 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.89           1.02           Beat
 Jun. 30 2023      0.84           1.04           Beat
 Mar. 31 2023      0.80           1.08           Beat
 Dec. 31 2022      0.84           0.88           Beat