ESNT Price Prediction Next Week
ESNT Stock Price Prediction and Recommendation
Based on the analysis of news sentiment and technical indicators, here is the prediction for Essent Group Ltd. (ESNT) for the next trading week:
News Sentiment Analysis:
- Dividend Increase: Essent Group announced a 10.7% dividend increase, signaling confidence in its financial health and cash flow generation.
- Earnings Report: The company reported a GAAP EPS of $1.58, missing expectations by $0.08, while revenue of $315.03 million slightly exceeded estimates by $1.15 million. This mixed performance may weigh on investor sentiment.
- Market Reaction: ESNT experienced a 10.8% decline in pre-market trading, indicating negative market reaction to the earnings report.
Technical Indicators Analysis:
- RSI (14): 47.52, nearing oversold territory, suggesting potential for a bounce.
- MACD: Slightly negative, indicating bearish momentum.
- Bollinger Bands: The stock is trading near the lower band, suggesting potential oversold conditions.
- Fibonacci Levels: Key resistance at 56.59 and support at 53.69.
Price Prediction:
- Target Price: 54.50
- Recommendation: Sell on strength if the stock approaches the resistance level of 56.59, as the technical indicators suggest limited upside potential in the near term.
ESNT Similar Chart Price Prediction
The price of ESNT is predicted to go up -2.72%, based on the high correlation periods with SOL. The similarity of these two price pattern on the periods is 94.64%.
ESNT
SOL
Down: -2.72%Similarity: 94.64%
ESNT Revenue Forecast
ESNT EPS Forecast
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ESNT Analyst's Forecast
Terence Malone
Barclays
Buy → Hold
2025-01-06
Price Target
$69 → $58
Upside
+8.21%
Barclays downgraded Essent Group to Equal Weight from Overweight with a price target of $58, down from $69. Heading into 2025, the firm favors consumer finance stocks "with positive catalysts that have not been fully priced in and could drive additional upside. Mortgage credit should remain benign, but credit normalization has begun more meaningfully as vintages continue to season, which means the default rate could accelerate in upcoming quarters, the analyst tells investors in a research note. Barclays says this "should keep a lid on valuations" and limit outperformance in 2025, hence its downgrade of Essent Group (ESNT) and NMI Holdings (NMIH).
Richard Shane
JP Morgan
Hold
2024-12-09
Price Target
$67 → $60
Upside
+8.77%
Scott Heleniak
RBC Capital
Buy
2024-11-04
Price Target
$73 → $67
Upside
+23.82%
