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

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

Goosehead Insurance Price Performance

Shares of NASDAQ:GSHD opened at $108.13 on Friday. The firm’s 50 day moving average price is $88.55 and its 200-day moving average price is $72.76. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $4.11 billion, a PE ratio of 174.40, a price-to-earnings-growth ratio of 4.72 and a beta of 1.35. Goosehead Insurance has a twelve month low of $50.47 and a twelve month high of $108.16.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Piper Sandler raised their price target on shares of Goosehead Insurance from $94.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday. JMP Securities upped their price objective on Goosehead Insurance from $100.00 to $115.00 and gave the company a “market outperform” rating in a research report on Thursday. BMO Capital Markets lowered Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 target price for the company. in a report on Thursday, August 22nd. Finally, TD Cowen cut Goosehead Insurance from a “buy” rating to a “hold” rating and decreased their price target for the stock from $98.00 to $94.00 in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.40.

Insider Buying and Selling at Goosehead Insurance

In other news, major shareholder Patrick Ryan Langston sold 7,674 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $85.19, for a total transaction of $653,748.06. Following the completion of the sale, the insider now owns 5,000 shares of the company’s stock, valued at $425,950. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Patrick Ryan Langston sold 7,674 shares of Goosehead Insurance stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $85.19, for a total transaction of $653,748.06. Following the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at $425,950. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark Evan Jones sold 10,418 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $85.88, for a total transaction of $894,697.84. Following the completion of the sale, the chairman now directly owns 39,451 shares of the company’s stock, valued at $3,388,051.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,798 shares of company stock valued at $6,310,613. Insiders own 48.35% of the company’s stock.

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.