Brown & Brown, Inc. (BRO) Expected to Post Earnings of $0.42 Per Share
Equities research analysts forecast that Brown & Brown, Inc. (NYSE:BRO) will post $0.42 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Brown & Brown’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.47. Brown & Brown also posted earnings per share of $0.42 in the same quarter last year. The company is expected to issue its next earnings results on Monday, January 22nd.
According to Zacks, analysts expect that Brown & Brown will report full-year earnings of $1.87 per share for the current financial year, with EPS estimates ranging from $1.82 to $1.93. For the next year, analysts expect that the firm will report earnings of $2.00 per share, with EPS estimates ranging from $1.93 to $2.10. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Brown & Brown.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 16th. The company reported C$0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.49 by C$0.04. Brown & Brown had a net margin of 14.66% and a return on equity of 10.99%. The company had revenue of C$475.60 million for the quarter, compared to analysts’ expectations of C$475.13 million. During the same period in the prior year, the business earned $0.50 earnings per share. Brown & Brown’s revenue for the quarter was up 2.9% compared to the same quarter last year.
A number of brokerages have commented on BRO. BidaskClub upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Wells Fargo & Company reiterated a “hold” rating on shares of Brown & Brown in a research report on Tuesday, August 15th. Citigroup Inc. cut shares of Brown & Brown from a “neutral” rating to a “sell” rating and set a $47.00 price target on the stock. in a research report on Wednesday, November 8th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $43.00 price target on shares of Brown & Brown in a research report on Friday, August 18th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of C$46.11.
Brown & Brown (BRO) opened at C$49.48 on Monday. Brown & Brown has a 52-week low of C$38.10 and a 52-week high of C$50.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $6,897.69, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 8th. Stockholders of record on Friday, October 27th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Thursday, October 26th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.14. Brown & Brown’s dividend payout ratio is 31.75%.
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In other news, insider Michael Waldkirch sold 75,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of C$0.75, for a total transaction of C$56,250.00. Also, Director Richard Silas sold 38,000 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of C$0.75, for a total value of C$28,500.00. Corporate insiders own 16.98% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas lifted its stake in Brown & Brown by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 9,529 shares of the company’s stock worth $410,000 after acquiring an additional 105 shares during the period. World Asset Management Inc lifted its stake in Brown & Brown by 1.7% in the second quarter. World Asset Management Inc now owns 7,326 shares of the company’s stock worth $316,000 after acquiring an additional 120 shares during the period. Pzena Investment Management LLC lifted its stake in Brown & Brown by 2.8% in the second quarter. Pzena Investment Management LLC now owns 5,087 shares of the company’s stock worth $219,000 after acquiring an additional 138 shares during the period. State of Wisconsin Investment Board lifted its stake in Brown & Brown by 0.6% in the second quarter. State of Wisconsin Investment Board now owns 23,381 shares of the company’s stock worth $1,007,000 after acquiring an additional 140 shares during the period. Finally, Rowland & Co. Investment Counsel ADV lifted its stake in Brown & Brown by 4.1% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the company’s stock worth $193,000 after acquiring an additional 175 shares during the period. 72.45% of the stock is owned by institutional investors.
About Brown & Brown
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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