$ 0.99 EPS expected for WR Berkley Co. (NYSE: WRB) this quarter
Wall Street Brokerages forecast WR Berkley Co. (NYSE: WRB) to report earnings of $ 0.99 per share for the current fiscal quarter, Zacks investment research reports. Analysts Zero released estimates for WR Berkley’s earnings, with the lowest EPS estimate at $ 0.97 and the highest estimate at $ 1.00. WR Berkley posted earnings per share of $ 0.65 in the same quarter last year, indicating a positive year-over-year growth rate of 52.3%. The company is expected to release its next earnings report after the market closes on Thursday, October 21.
According to Zacks, analysts expect WR Berkley to report annual earnings of $ 4.37 per share for the current year, with EPS estimates ranging from $ 4.33 to $ 4.40. For the next fiscal year, analysts predict the company will post earnings of $ 4.79 per share, with EPS estimates ranging from $ 4.60 to $ 4.97. Zacks Investment Research earnings per share averages are an average based on a survey of research analysts who cover WR Berkley.
WR Berkley (NYSE: WRB) last reported its quarterly results on Wednesday, July 21. The insurance provider reported EPS of $ 1.17 for the quarter, beating the Zacks’ consensus estimate of $ 1.00 by $ 0.17. The company posted revenue of $ 1.97 billion for the quarter, compared to analysts’ expectations of $ 1.90 billion. WR Berkley had a return on equity of 11.27% and a net margin of 10.57%. The company’s quarterly revenue increased 17.6% year-on-year. During the same period of the previous year, the company earned $ 0.38 per share.
Several research companies have weighed in on WRB recently. The Royal Bank of Canada lowered its price target for WR Berkley from $ 90.00 to $ 88.00 and established an “outperform” rating on the stock in a research report on Friday July 23. Bank of America downgraded WR Berkley from an “underperforming” to a “neutral” rating and raised its price target for the company from $ 80.00 to $ 86.00 in a research report on Thursday August 19. They noted that the move was an appraisal call. Wolfe Research began covering WR Berkley in a research report on Monday, August 16. They set a “market performance” rating and a target price of $ 76.00 for the stock. Zacks investment research downgraded WR Berkley from a “buy” rating to a “keep” rating and set a target price of $ 76.00 on the stock. in a report on Tuesday, September 21. Finally, Boenning Scattergood downgraded WR Berkley from a “neutral” rating to an “outperforming” rating and set a target price of $ 87.00 on the stock in a report released on Monday, September 20. Six analysts rated the stock with a conservation rating and five issued a buy rating for the stock. According to MarketBeat, the company has an average “Hold” rating and a consensus price target of $ 81.55.
Actions of NYSE WRB traded up $ 0.35 at midday Tuesday, reaching $ 76.91. 7,785 shares of the stock were traded, compared to its average volume of 695,271. The company has a leverage ratio of 0.44, a quick ratio of 0.41 and a current ratio of 0.41. WR Berkley has a 52 week low at $ 59.61 and a 52 week high at $ 82.43. The company has a market cap of $ 13.65 billion, a price / earnings ratio of 15.45, a PEG ratio of 1.80 and a beta of 0.85. The stock has a fifty-day moving average price of $ 74.05 and a 200-day moving average price of $ 76.03.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 29. Investors of record on Wednesday September 15 received a dividend of $ 0.13 per share. This represents a dividend of $ 0.52 on an annualized basis and a return of 0.68%. The ex-dividend date of this dividend was Tuesday, September 14. WR Berkley’s dividend payout ratio (DPR) is currently 22.41%.
Large investors have recently increased or reduced their stakes in the company. Maverick Capital Ltd. purchased a new position in WR Berkley shares in the second quarter valued at approximately $ 36,000. Quadrant Capital Group LLC increased its stake in WR Berkley shares by 174.2% in the first quarter. Quadrant Capital Group LLC now owns 595 shares of the insurance provider valued at $ 45,000 after acquiring 378 additional shares during the period. Capital Analysts LLC purchased a new position in WR Berkley shares in the second quarter valued at approximately $ 45,000. Deseret Mutual Benefit Administrators purchased a new position in WR Berkley shares in the second quarter valued at approximately $ 66,000. Finally, HM Payson & Co. purchased a new position in WR Berkley shares in the second quarter valued at approximately $ 102,000. 68.24% of the shares are held by institutional investors and hedge funds.
WR Berkley Company Profile
WR Berkley Corp. is an insurance holding company active in the property and casualty insurance field. It operates through the following segments: Insurance and Reinsurance & Excess Monoline. The Insurance segment includes surplus and surplus lines, admitted lines and specialized personal lines in the United States, as well as insurance activities in the United Kingdom, Continental Europe, South America, Canada, Mexico, in Scandinavia, Asia and Australia.
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