Goosehead Insurance (NASDAQ:GSHD) Posts Earnings Results, Beats Expectations By $0.04 EPS

Goosehead Insurance (NASDAQ:GSHD) announced its quarterly earnings data on Wednesday. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04, Briefing.com reports. The business had revenue of $78.10 million for the quarter, compared to analyst estimates of $74.31 million. Goosehead Insurance had a net margin of 6.71% and a return on equity of 244.15%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Stock Performance

Shares of NASDAQ:GSHD traded up $3.79 on Friday, hitting $88.68. The company had a trading volume of 492,954 shares, compared to its average volume of 332,210. Goosehead Insurance has a 1-year low of $50.47 and a 1-year high of $92.76. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 143.03, a P/E/G ratio of 5.88 and a beta of 1.36. The stock has a 50 day moving average price of $61.51 and a 200 day moving average price of $67.39. The company has a current ratio of 1.13, a quick ratio of 1.73 and a debt-to-equity ratio of 2.31.

Insider Buying and Selling at Goosehead Insurance

In related news, COO Mark Miller acquired 10,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were purchased at an average cost of $58.06 per share, for a total transaction of $580,600.00. Following the completion of the acquisition, 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 SEC, which is available at this link. Corporate insiders own 48.35% of the company’s stock.

Wall Street Analysts Forecast Growth

GSHD has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 price objective on shares of Goosehead Insurance in a research report on Thursday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $84.00 target price (down from $85.00) on shares of Goosehead Insurance in a report on Friday. BMO Capital Markets lowered their target price on shares of Goosehead Insurance from $90.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. TD Cowen lowered their target price on shares of Goosehead Insurance from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, Truist Financial boosted their target price on shares of Goosehead Insurance from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.70.

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.