Brokerages forecast that Everest Re Group, Ltd. (NYSE:RE) will post $5.91 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Everest Re Group’s earnings, with the lowest EPS estimate coming in at $4.36 and the highest estimate coming in at $7.75. Everest Re Group reported earnings of $8.83 per share during the same quarter last year, which would suggest a negative year over year growth rate of 33.1%. The business is expected to announce its next quarterly earnings results on Monday, February 5th.
On average, analysts expect that Everest Re Group will report full-year earnings of $1.71 per share for the current fiscal year, with EPS estimates ranging from $0.75 to $3.40. For the next year, analysts expect that the business will report earnings of $19.80 per share, with EPS estimates ranging from $16.55 to $21.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Everest Re Group.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, October 30th. The insurance provider reported ($16.43) EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($20.11). Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the firm earned $6.53 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year.
A number of equities research analysts have recently issued reports on RE shares. ValuEngine lowered shares of Everest Re Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Wells Fargo & Company set a $240.00 target price on shares of Everest Re Group and gave the company a “hold” rating in a research note on Monday, October 30th. Zacks Investment Research upgraded shares of Everest Re Group from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $234.00 target price on shares of Everest Re Group in a research note on Wednesday, December 6th. Finally, UBS cut their target price on shares of Everest Re Group from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $250.56.
In other Everest Re Group news, Director William F. Galtney, Jr. acquired 6,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average price of $225.29 per share, with a total value of $1,351,740.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in RE. Acrospire Investment Management LLC grew its position in Everest Re Group by 66.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock worth $127,000 after purchasing an additional 200 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Everest Re Group in the 3rd quarter worth about $137,000. Pacer Advisors Inc. bought a new position in Everest Re Group in the 2nd quarter worth about $160,000. IFP Advisors Inc grew its position in Everest Re Group by 29.1% in the 2nd quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock worth $167,000 after purchasing an additional 148 shares during the last quarter. Finally, ETRADE Capital Management LLC bought a new position in Everest Re Group in the 2nd quarter worth about $201,000. 93.68% of the stock is owned by institutional investors and hedge funds.
Everest Re Group (NYSE RE) opened at $212.28 on Monday. Everest Re Group has a 1-year low of $208.81 and a 1-year high of $277.17. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market cap of $8,718.34, a price-to-earnings ratio of 50.54, a price-to-earnings-growth ratio of 12.40 and a beta of 0.61.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 29th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Tuesday, November 28th. This is an increase from Everest Re Group’s previous quarterly dividend of $1.25. Everest Re Group’s dividend payout ratio is currently 81.63%.
About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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