Goosehead Insurance (NASDAQ:GSHD) Releases Earnings Results, Beats Estimates By $0.05 EPS

Goosehead Insurance (NASDAQ:GSHD) released its quarterly earnings data on Wednesday. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05, Briefing.com reports. The firm had revenue of $78.04 million for the quarter, compared to the consensus estimate of $80.54 million. Goosehead Insurance had a return on equity of 244.15% and a net margin of 6.71%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Stock Up 0.4 %

Shares of GSHD traded up $0.46 on Friday, reaching $108.59. The stock had a trading volume of 387,995 shares, compared to its average volume of 293,722. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 173.87, a price-to-earnings-growth ratio of 4.72 and a beta of 1.35. The company has a 50-day simple moving average of $88.55 and a 200-day simple moving average of $72.76. Goosehead Insurance has a 12-month low of $50.47 and a 12-month high of $109.95. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.14 and a current ratio of 1.13.

Analysts Set New Price Targets

A number of equities analysts have commented on GSHD shares. JMP Securities lifted their price target on Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of Goosehead Insurance from $65.00 to $77.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. TD Cowen cut shares of Goosehead Insurance from a “buy” rating to a “hold” rating and decreased their price objective for the company from $98.00 to $94.00 in a research report on Thursday, August 15th. UBS Group increased their target price on shares of Goosehead Insurance from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $84.00 price target (down previously from $85.00) on shares of Goosehead Insurance in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.40.

Insider Buying and Selling

In other Goosehead Insurance news, Chairman Mark Evan Jones sold 10,418 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $85.88, for a total transaction of $894,697.84. Following the completion of the transaction, the chairman now owns 39,451 shares of the company’s stock, valued at approximately $3,388,051.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman Mark Evan Jones sold 10,418 shares of Goosehead Insurance stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $85.88, for a total transaction of $894,697.84. Following the completion of the transaction, the chairman now directly owns 39,451 shares in the company, valued at approximately $3,388,051.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Patrick Ryan Langston sold 4,814 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $90.26, for a total value of $434,511.64. Following the completion of the sale, the insider now directly owns 5,000 shares in the company, valued at approximately $451,300. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,798 shares of company stock valued at $6,310,613 over the last ninety days. Company insiders own 48.35% of the company’s stock.

About Goosehead Insurance

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner’s, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.