AMERISAFE, Inc. (AMSF) Expected to Announce Quarterly Sales of $91.96 Million
Wall Street brokerages forecast that AMERISAFE, Inc. (NASDAQ:AMSF) will announce sales of $91.96 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for AMERISAFE’s earnings. The highest sales estimate is $92.10 million and the lowest is $91.82 million. AMERISAFE reported sales of $98.03 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.2%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, October 25th.
On average, analysts expect that AMERISAFE will report full year sales of $91.96 million for the current fiscal year, with estimates ranging from $369.79 million to $370.50 million. For the next year, analysts expect that the company will report sales of $350.78 million per share, with estimates ranging from $347.26 million to $354.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow AMERISAFE.
AMERISAFE (NASDAQ:AMSF) last announced its earnings results on Thursday, July 27th. The insurance provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. AMERISAFE had a return on equity of 14.04% and a net margin of 17.17%. The firm had revenue of $89.93 million for the quarter, compared to the consensus estimate of $92.33 million. During the same quarter in the previous year, the business earned $0.85 EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis.
A number of equities analysts have commented on AMSF shares. Boenning Scattergood began coverage on AMERISAFE in a research note on Monday, September 25th. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded AMERISAFE from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Monday, September 18th. Finally, BidaskClub lowered AMERISAFE from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th.
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In other news, CFO Neal Andrew Fuller sold 1,850 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $56.94, for a total transaction of $105,339.00. Following the transaction, the chief financial officer now owns 23,210 shares of the company’s stock, valued at $1,321,577.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Randy Roach sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $56.90, for a total value of $28,450.00. Following the completion of the transaction, the director now owns 8,399 shares in the company, valued at approximately $477,903.10. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new stake in AMERISAFE during the 1st quarter worth about $106,000. Flinton Capital Management LLC lifted its position in AMERISAFE by 53.7% during the 2nd quarter. Flinton Capital Management LLC now owns 2,142 shares of the insurance provider’s stock valued at $122,000 after purchasing an additional 748 shares during the period. Pinebridge Investments L.P. lifted its position in AMERISAFE by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,534 shares of the insurance provider’s stock valued at $144,000 after purchasing an additional 26 shares during the period. US Bancorp DE lifted its position in AMERISAFE by 1.2% during the 2nd quarter. US Bancorp DE now owns 2,540 shares of the insurance provider’s stock valued at $145,000 after purchasing an additional 30 shares during the period. Finally, Citadel Advisors LLC acquired a new position in AMERISAFE during the 1st quarter valued at about $208,000. Hedge funds and other institutional investors own 99.51% of the company’s stock.
Shares of AMERISAFE (NASDAQ:AMSF) traded up 1.03% during trading on Friday, reaching $58.80. 105,504 shares of the company were exchanged. The stock has a market capitalization of $1.13 billion, a P/E ratio of 17.14 and a beta of 0.88. The stock has a 50-day moving average of $55.62 and a 200 day moving average of $57.20. AMERISAFE has a 52-week low of $51.20 and a 52-week high of $69.40.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a $0.20 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.36%. AMERISAFE’s payout ratio is 23.32%.
AMERISAFE Company Profile
Amerisafe, Inc is an insurance holding company. The Company is engaged in providing workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, and agriculture. It is engaged in underwriting the workers’ compensation exposures inherent in these industries.
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