Brokerages Expect ProAssurance Co. (NYSE:PRA) Will Announce Earnings of $0.08 Per Share

Brokerages predict that ProAssurance Co. (NYSE:PRA) will announce earnings of $0.08 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for ProAssurance’s earnings. The lowest EPS estimate is $0.05 and the highest is $0.10. ProAssurance reported earnings of ($0.60) per share during the same quarter last year, which would indicate a positive year over year growth rate of 113.3%. The business is expected to announce its next earnings results on Monday, August 9th.

On average, analysts expect that ProAssurance will report full-year earnings of $0.33 per share for the current year, with EPS estimates ranging from $0.30 to $0.40. For the next fiscal year, analysts anticipate that the business will report earnings of $0.45 per share, with EPS estimates ranging from $0.40 to $0.50. Zacks’ EPS averages are a mean average based on a survey of research firms that cover ProAssurance.

ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Wednesday, May 5th. The insurance provider reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. ProAssurance had a negative return on equity of 6.92% and a negative net margin of 27.87%.

Several equities research analysts recently issued reports on PRA shares. Truist lifted their price objective on ProAssurance from $16.00 to $27.00 in a research note on Wednesday, February 24th. Zacks Investment Research raised shares of ProAssurance from a “sell” rating to a “hold” rating and set a $23.00 price target for the company in a research note on Thursday, February 11th. Boenning Scattergood reaffirmed a “neutral” rating on shares of ProAssurance in a report on Tuesday, January 26th. Finally, JMP Securities increased their target price on ProAssurance from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, April 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.50.

NYSE:PRA traded down $0.15 during mid-day trading on Monday, hitting $25.26. 1,105 shares of the stock traded hands, compared to its average volume of 249,554. The business’s 50-day moving average price is $26.49 and its 200 day moving average price is $21.57. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.36 billion, a PE ratio of -5.46 and a beta of 0.26. ProAssurance has a 12-month low of $12.76 and a 12-month high of $29.15.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 13th. Stockholders of record on Friday, March 26th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 25th. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. ProAssurance’s dividend payout ratio is currently -24.69%.

A number of hedge funds have recently modified their holdings of PRA. Norges Bank bought a new stake in ProAssurance in the fourth quarter valued at approximately $13,589,000. Boston Partners increased its position in shares of ProAssurance by 152.2% in the fourth quarter. Boston Partners now owns 1,185,364 shares of the insurance provider’s stock valued at $21,088,000 after acquiring an additional 715,375 shares during the period. Victory Capital Management Inc. raised its stake in shares of ProAssurance by 1,020.8% during the first quarter. Victory Capital Management Inc. now owns 668,753 shares of the insurance provider’s stock valued at $17,896,000 after acquiring an additional 609,083 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of ProAssurance by 2,717.6% during the first quarter. Bank of Montreal Can now owns 556,728 shares of the insurance provider’s stock worth $15,276,000 after purchasing an additional 536,969 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of ProAssurance by 678.0% in the fourth quarter. JPMorgan Chase & Co. now owns 413,683 shares of the insurance provider’s stock worth $7,359,000 after purchasing an additional 360,510 shares during the last quarter. Institutional investors own 80.52% of the company’s stock.

ProAssurance Company Profile

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.

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Earnings History and Estimates for ProAssurance (NYSE:PRA)

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