Brokerages Anticipate RLI Corp (RLI) Will Announce Earnings of $0.59 Per Share
Analysts forecast that RLI Corp (NYSE:RLI) will post earnings of $0.59 per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for RLI’s earnings, with estimates ranging from $0.57 to $0.60. RLI posted earnings per share of $0.60 during the same quarter last year, which would indicate a negative year over year growth rate of 1.7%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, April 17th.
According to Zacks, analysts expect that RLI will report full-year earnings of $2.23 per share for the current year, with EPS estimates ranging from $2.20 to $2.25. For the next fiscal year, analysts forecast that the firm will report earnings of $2.20 per share, with EPS estimates ranging from $2.15 to $2.25. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for RLI.
RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, January 23rd. The insurance provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.24. RLI had a net margin of 7.84% and a return on equity of 10.96%. The business had revenue of $220.96 million for the quarter, compared to the consensus estimate of $217.97 million. During the same period in the prior year, the business posted $1.21 earnings per share.
Shares of NYSE RLI traded up $0.10 during mid-day trading on Thursday, reaching $72.67. The company had a trading volume of 264 shares, compared to its average volume of 128,230. RLI has a twelve month low of $62.10 and a twelve month high of $79.98. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $3.24 billion, a PE ratio of 35.51 and a beta of 0.93.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 28th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, February 27th. RLI’s payout ratio is 42.93%.
In related news, Director Michael J. Stone sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $70.44, for a total value of $704,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Stone sold 1,437 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $71.55, for a total transaction of $102,817.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,437 shares of company stock valued at $1,068,937. Company insiders own 5.01% of the company’s stock.
Several institutional investors have recently modified their holdings of RLI. Murphy Pohlad Asset Management LLC acquired a new stake in shares of RLI in the fourth quarter valued at approximately $27,000. Intercontinental Wealth Advisors LLC acquired a new stake in shares of RLI in the fourth quarter valued at approximately $47,000. BlueMountain Capital Management LLC acquired a new stake in shares of RLI in the third quarter valued at approximately $121,000. Contravisory Investment Management Inc. acquired a new stake in shares of RLI in the first quarter valued at approximately $124,000. Finally, FMR LLC acquired a new stake in shares of RLI in the third quarter valued at approximately $163,000. 89.29% of the stock is owned by institutional investors and hedge funds.
RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.
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