Wall Street brokerages predict that Everest Re Group Ltd (NYSE:RE) will post sales of $1.83 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Everest Re Group’s earnings, with the lowest sales estimate coming in at $1.80 billion and the highest estimate coming in at $1.85 billion. Everest Re Group reported sales of $1.68 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.9%. The firm is scheduled to announce its next earnings results after the market closes on Monday, October 29th.

On average, analysts expect that Everest Re Group will report full year sales of $7.40 billion for the current year, with estimates ranging from $7.23 billion to $7.52 billion. For the next financial year, analysts anticipate that the business will post sales of $8.11 billion, with estimates ranging from $7.82 billion to $8.29 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Everest Re Group.

Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, July 30th. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.03). The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.72 billion. Everest Re Group had a return on equity of 1.80% and a net margin of 2.93%. During the same quarter in the prior year, the business earned $5.51 earnings per share.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $263.00 target price on the stock in a research report on Tuesday, July 17th. TheStreet lowered shares of Everest Re Group from a “b” rating to a “c+” rating in a research report on Thursday, September 6th. Morgan Stanley decreased their target price on shares of Everest Re Group from $258.00 to $243.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 14th. Wells Fargo & Co reiterated a “hold” rating and set a $240.00 target price on shares of Everest Re Group in a research report on Thursday, July 19th. Finally, ValuEngine upgraded shares of Everest Re Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Everest Re Group has a consensus rating of “Hold” and a consensus price target of $251.89.

In related news, CEO John P. Doucette sold 900 shares of Everest Re Group stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $215.32, for a total transaction of $193,788.00. Following the completion of the transaction, the chief executive officer now directly owns 22,620 shares of the company’s stock, valued at approximately $4,870,538.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. World Asset Management Inc lifted its holdings in Everest Re Group by 8.3% during the 2nd quarter. World Asset Management Inc now owns 2,770 shares of the insurance provider’s stock valued at $638,000 after purchasing an additional 213 shares during the last quarter. Diversified Trust Co lifted its holdings in Everest Re Group by 26.4% during the 1st quarter. Diversified Trust Co now owns 1,150 shares of the insurance provider’s stock valued at $295,000 after purchasing an additional 240 shares during the last quarter. Daiwa SB Investments Ltd. lifted its holdings in Everest Re Group by 38.7% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 860 shares of the insurance provider’s stock valued at $198,000 after purchasing an additional 240 shares during the last quarter. Cibc Bank USA lifted its holdings in Everest Re Group by 6.5% during the 3rd quarter. Cibc Bank USA now owns 4,089 shares of the insurance provider’s stock valued at $935,000 after purchasing an additional 250 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Everest Re Group by 4.8% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,942 shares of the insurance provider’s stock valued at $1,370,000 after purchasing an additional 273 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

NYSE RE traded down $3.55 during midday trading on Wednesday, hitting $212.63. The company had a trading volume of 214,830 shares, compared to its average volume of 307,489. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 1.25 and a beta of 0.42. Everest Re Group has a fifty-two week low of $206.68 and a fifty-two week high of $264.88.

Everest Re Group Company Profile

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the Unites States.

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Earnings History and Estimates for Everest Re Group (NYSE:RE)

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