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

Goosehead Insurance (NASDAQ:GSHD) posted its earnings results on Wednesday. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04, Briefing.com reports. Goosehead Insurance had a net margin of 6.71% and a return on equity of 111.97%. The business had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $74.31 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Trading Up 1.8 %

Shares of NASDAQ GSHD traded up $1.55 during mid-day trading on Friday, hitting $86.44. The company’s stock had a trading volume of 99,362 shares, compared to its average volume of 304,933. Goosehead Insurance has a one year low of $50.47 and a one year high of $92.76. The company’s fifty day simple moving average is $61.00 and its 200-day simple moving average is $67.25. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 136.92, a price-to-earnings-growth ratio of 4.55 and a beta of 1.36.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $100.00 price target on shares of Goosehead Insurance in a research report on Monday, April 15th. Bank of America upped their price objective on shares of Goosehead Insurance from $35.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday, June 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 target price on shares of Goosehead Insurance in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $84.00 price target (down from $85.00) on shares of Goosehead Insurance in a report on Friday. Finally, Truist Financial boosted their price objective on Goosehead Insurance from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.70.

Insider Buying and Selling

In other Goosehead Insurance news, COO Mark Miller acquired 10,000 shares of Goosehead Insurance stock in a transaction on Monday, April 29th. The shares were purchased at an average cost of $58.06 per share, with a total value of $580,600.00. Following the completion of the purchase, the chief operating officer now owns 30,000 shares in the company, valued at $1,741,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 48.35% of the stock is currently owned by insiders.

About Goosehead Insurance

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.