Goosehead Insurance (NASDAQ:GSHD) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Goosehead Insurance (NASDAQ:GSHD) posted its quarterly earnings data on Wednesday. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05, Briefing.com reports. The company had revenue of $78.04 million during the quarter, compared to the consensus estimate of $80.54 million. Goosehead Insurance had a net margin of 6.71% and a return on equity of 244.15%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 EPS. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Trading Up 12.6 %

NASDAQ:GSHD opened at $108.13 on Friday. Goosehead Insurance has a 1 year low of $50.47 and a 1 year high of $108.16. The business has a fifty day moving average of $88.55 and a 200-day moving average of $72.76. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.14 and a current ratio of 1.13. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 174.40, a PEG ratio of 4.72 and a beta of 1.35.

Insider Activity at Goosehead Insurance

In related news, major shareholder Patrick Ryan Langston sold 2,167 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $90.09, for a total transaction of $195,225.03. Following the sale, the insider now owns 5,000 shares of the company’s stock, valued at $450,450. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Mark Evan Jones sold 14,030 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $82.96, for a total value of $1,163,928.80. Following the completion of the transaction, the chairman now owns 39,451 shares in the company, valued at $3,272,854.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Patrick Ryan Langston sold 2,167 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $90.09, for a total value of $195,225.03. Following the sale, the insider now owns 5,000 shares in the company, valued at approximately $450,450. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,798 shares of company stock worth $6,310,613 over the last ninety days. 48.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GSHD shares. Piper Sandler increased their target price on Goosehead Insurance from $94.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday. JMP Securities boosted their price target on Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Thursday. BMO Capital Markets downgraded shares of Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 price objective on the stock. in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $84.00 target price (down previously from $85.00) on shares of Goosehead Insurance in a research report on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on shares of Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.40.

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.