Goosehead Insurance (NASDAQ:GSHD) Issues Earnings Results, Beats Estimates By $0.04 EPS

Goosehead Insurance (NASDAQ:GSHD) announced its earnings results on Wednesday. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04, Briefing.com reports. The firm had revenue of $78.10 million during the quarter, compared to analysts’ expectations of $74.31 million. Goosehead Insurance had a return on equity of 202.00% and a net margin of 5.99%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Stock Performance

Shares of GSHD traded up $19.19 during mid-day trading on Thursday, hitting $84.89. The company’s stock had a trading volume of 1,565,019 shares, compared to its average volume of 306,380. The firm has a market capitalization of $3.22 billion, a PE ratio of 136.92, a price-to-earnings-growth ratio of 4.68 and a beta of 1.36. Goosehead Insurance has a one year low of $50.47 and a one year high of $92.76. The stock’s 50-day moving average is $61.00 and its two-hundred day moving average is $67.25. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.73 and a current ratio of 1.73.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GSHD shares. TD Cowen decreased their target price on Goosehead Insurance from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Keefe, Bruyette & Woods decreased their target price on Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JMP Securities reaffirmed a “market outperform” rating and set a $100.00 target price on shares of Goosehead Insurance in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their target price on Goosehead Insurance from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, BMO Capital Markets decreased their target price on Goosehead Insurance from $90.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

Insider Buying and Selling

In other news, COO Mark Miller bought 10,000 shares of Goosehead Insurance stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $58.06 per share, with a total value of $580,600.00. Following the completion of the transaction, the chief operating officer now directly owns 30,000 shares in the company, valued at $1,741,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 48.35% of the stock is owned by company insiders.

Goosehead Insurance Company Profile

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.