Mortgage insurance provider Radian Group (NYSE: RDN) will be announcing earnings results this Wednesday after market hours. Here’s what to expect.
Radian Group met analysts’ revenue expectations last quarter, reporting revenues of $303 million, down 9.2% year on year. It was a mixed quarter for the company, with revenue in line with analysts’ estimates but a narrow beat of analysts’ EPS estimates.
Is Radian Group 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 Radian Group’s revenue to grow 31.9% year on year, a reversal from the 3% decrease 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 to stay the course heading into earnings. Radian Group has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Radian Group’s peers in the property & casualty insurance segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Stewart Information Services delivered year-on-year revenue growth of 27.7%, beating analysts’ expectations by 4.7%, and First American Financial reported revenues up 16.2%, topping estimates by 2.4%. Stewart Information Services traded up 3.9% following the results while First American Financial was also up 3.5%.
Read our full analysis of Stewart Information Services’s results here and First American Financial’s results here.
Investors in the property & casualty insurance segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Radian Group is up 4.4% during the same time and is heading into earnings with an average analyst price target of $40.67 (compared to the current share price of $35.45).
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