Brokerages forecast that Radian Group Inc (NYSE:RDN) will report earnings per share of $0.64 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Radian Group’s earnings, with estimates ranging from $0.63 to $0.64. Radian Group posted earnings of $0.46 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 39.1%. The business is scheduled to announce its next earnings results on Thursday, October 25th.
On average, analysts expect that Radian Group will report full year earnings of $2.54 per share for the current fiscal year, with EPS estimates ranging from $2.50 to $2.57. For the next fiscal year, analysts forecast that the business will post earnings of $2.69 per share, with EPS estimates ranging from $2.59 to $2.82. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Radian Group.
Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, July 26th. The insurance provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The company had revenue of $319.30 million during the quarter, compared to the consensus estimate of $320.34 million. Radian Group had a net margin of 31.87% and a return on equity of 16.10%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS.
A number of brokerages recently issued reports on RDN. Bank of America increased their target price on shares of Radian Group from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. B. Riley increased their target price on shares of Radian Group from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. TheStreet upgraded shares of Radian Group from a “c+” rating to a “b-” rating in a research report on Tuesday, July 31st. Royal Bank of Canada reiterated a “hold” rating and set a $21.00 target price on shares of Radian Group in a research report on Friday, July 27th. Finally, ValuEngine upgraded shares of Radian Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $23.11.
Shares of Radian Group stock opened at $20.14 on Monday. The stock has a market cap of $4.30 billion, a P/E ratio of 11.07, a PEG ratio of 1.59 and a beta of 1.49. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.32. Radian Group has a 12-month low of $14.06 and a 12-month high of $23.49.
The company also recently announced a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Monday, August 27th were given a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date of this dividend was Friday, August 24th. Radian Group’s dividend payout ratio (DPR) is currently 0.55%.
Radian Group announced that its Board of Directors has initiated a share repurchase program on Thursday, August 16th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the insurance provider to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Radian Group by 3.7% in the 2nd quarter. BlackRock Inc. now owns 15,049,243 shares of the insurance provider’s stock valued at $244,099,000 after acquiring an additional 534,225 shares in the last quarter. Northern Trust Corp increased its position in Radian Group by 1.0% in the 2nd quarter. Northern Trust Corp now owns 5,230,041 shares of the insurance provider’s stock valued at $84,831,000 after acquiring an additional 50,798 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Radian Group by 94.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,056,400 shares of the insurance provider’s stock valued at $82,015,000 after acquiring an additional 2,451,300 shares in the last quarter. Investec Asset Management LTD increased its position in Radian Group by 5.8% in the 2nd quarter. Investec Asset Management LTD now owns 4,159,795 shares of the insurance provider’s stock valued at $67,472,000 after acquiring an additional 227,851 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Radian Group by 31.8% in the 1st quarter. Wells Fargo & Company MN now owns 3,053,878 shares of the insurance provider’s stock valued at $58,145,000 after acquiring an additional 736,875 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.
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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