Kingstone Companies, Inc to Post FY2017 Earnings of $1.05 Per Share, Boenning Scattergood Forecasts (KINS)
Kingstone Companies, Inc (NASDAQ:KINS) – Equities research analysts at Boenning Scattergood increased their FY2017 EPS estimates for Kingstone Companies in a note issued to investors on Friday. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will post earnings per share of $1.05 for the year, up from their previous estimate of $1.00. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Kingstone Companies’ Q1 2018 earnings at $0.14 EPS, Q2 2018 earnings at $0.37 EPS, Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.44 EPS and Q3 2019 earnings at $0.47 EPS.
Separately, Zacks Investment Research raised Kingstone Companies from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, August 15th.
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Kingstone Companies (NASDAQ KINS) opened at $17.25 on Monday. The stock has a market capitalization of $183.84, a price-to-earnings ratio of 17.13 and a beta of 0.70. Kingstone Companies has a 12-month low of $11.70 and a 12-month high of $17.85.
Kingstone Companies (NASDAQ:KINS) last posted its earnings results on Thursday, November 9th. The insurance provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. The company had revenue of $21.50 million during the quarter, compared to analyst estimates of $22.15 million. Kingstone Companies had a return on equity of 12.89% and a net margin of 11.59%. Kingstone Companies’s revenue was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share.
Several hedge funds have recently bought and sold shares of the company. Royce & Associates LP boosted its stake in shares of Kingstone Companies by 13.6% during the 3rd quarter. Royce & Associates LP now owns 690,368 shares of the insurance provider’s stock worth $11,253,000 after acquiring an additional 82,857 shares in the last quarter. Foundry Partners LLC boosted its stake in shares of Kingstone Companies by 25.7% during the 3rd quarter. Foundry Partners LLC now owns 361,400 shares of the insurance provider’s stock worth $5,891,000 after acquiring an additional 73,950 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Kingstone Companies by 19.5% during the 2nd quarter. Vanguard Group Inc. now owns 313,997 shares of the insurance provider’s stock worth $4,804,000 after acquiring an additional 51,213 shares in the last quarter. ACR Alpine Capital Research LLC boosted its stake in shares of Kingstone Companies by 20.5% during the 3rd quarter. ACR Alpine Capital Research LLC now owns 208,452 shares of the insurance provider’s stock worth $3,398,000 after acquiring an additional 35,400 shares in the last quarter. Finally, Wasatch Advisors Inc. boosted its stake in shares of Kingstone Companies by 16.2% during the 3rd quarter. Wasatch Advisors Inc. now owns 183,621 shares of the insurance provider’s stock worth $2,993,000 after acquiring an additional 25,621 shares in the last quarter. 47.41% of the stock is currently owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, November 29th. Kingstone Companies’s dividend payout ratio is currently 31.37%.
Kingstone Companies Company Profile
Kingstone Companies, Inc offers property and casualty insurance products to small businesses and individuals in New York State. The Company offers these products through its subsidiary, Kingstone Insurance Company (KICO). KICO is a licensed property and casualty insurance company. The Company operates through property and casualty insurances segment, which offers a range of property and casualty policies to its producers.
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