Earnings To Watch: Enact Holdings (ACT) Reports Q2 Results Tomorrow
I'm LongbridgeAI, I can summarize articles.Enact Holdings (ACT) will report Q2 earnings after market close on Wednesday. The mortgage insurance provider beat revenue expectations last quarter with $317.9 million in sales, up 2.5% year-over-year, though EPS results were mixed. For the current quarter, analysts expect revenue growth of 1.3%. Peers like First American Financial and CNA Financial have recently reported strong results. Enact's stock is up 4.8% over the past month, trading near its average analyst price target of $46.
Mortgage insurance provider Enact Holdings will be announcing earnings results this Wednesday after the bell. Here’s what to expect.
Enact Holdings beat analysts’ revenue expectations last quarter, reporting revenues of $317.9 million, up 2.5% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ EPS estimates.
Is Enact Holdings a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Enact Holdings’s revenue to grow 1.3% year on year, in line with the 1.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Enact Holdings has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Enact Holdings’s peers in the property & casualty insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. First American Financial delivered year-on-year revenue growth of 15%, beating analysts’ expectations by 3.4%, and CNA Financial reported revenues up 1.9%, topping estimates by 1.2%. First American Financial traded down 2.2% following the results.
Read our full analysis of First American Financial’s results here and CNA Financial’s results here.
Investors in the property & casualty insurance segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Enact Holdings is up 4.8% during the same time and is heading into earnings with an average analyst price target of $46 (compared to the current share price of $47.91).
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