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

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

Goosehead Insurance Stock Performance

Shares of Goosehead Insurance stock traded up $19.19 on Thursday, reaching $84.89. The stock had a trading volume of 1,565,019 shares, compared to its average volume of 306,380. The business’s 50-day moving average price is $61.00 and its two-hundred day moving average price 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. Goosehead Insurance has a fifty-two week low of $50.47 and a fifty-two week high of $92.76. The stock has a market cap of $3.22 billion, a P/E ratio of 136.92, a price-to-earnings-growth ratio of 4.68 and a beta of 1.36.

Wall Street Analysts Forecast Growth

GSHD has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of Goosehead Insurance from $35.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, June 11th. Keefe, Bruyette & Woods lowered their price objective on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. JMP Securities reaffirmed a “market outperform” rating and set a $100.00 price objective on shares of Goosehead Insurance in a research report on Monday, April 15th. Piper Sandler boosted their price objective on shares of Goosehead Insurance from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Goosehead Insurance from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. One equities research 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’s stock. According to MarketBeat, Goosehead Insurance has an average rating of “Moderate Buy” and an average target price of $75.80.

Insider Transactions at Goosehead Insurance

In other news, COO Mark Miller acquired 10,000 shares of Goosehead Insurance stock in a transaction dated Monday, April 29th. The stock was acquired at an average cost of $58.06 per share, for a total transaction of $580,600.00. Following the completion of the purchase, the chief operating officer now owns 30,000 shares of the company’s stock, valued at $1,741,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 48.35% of the stock is owned by corporate 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.