Zacks: Analysts Anticipate Everest Re Group Ltd (RE) Will Post Earnings of $5.48 Per Share
Equities research analysts predict that Everest Re Group Ltd (NYSE:RE) will post $5.48 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Everest Re Group’s earnings, with the lowest EPS estimate coming in at $4.97 and the highest estimate coming in at $5.95. Everest Re Group reported earnings of $6.29 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 12.9%. The business is scheduled to announce its next quarterly earnings report on Monday, April 23rd.
According to Zacks, analysts expect that Everest Re Group will report full-year earnings of $21.72 per share for the current fiscal year, with EPS estimates ranging from $20.35 to $24.61. For the next financial year, analysts anticipate that the business will post earnings of $23.40 per share, with EPS estimates ranging from $20.90 to $25.94. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Everest Re Group.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, February 5th. The insurance provider reported $13.48 EPS for the quarter, beating analysts’ consensus estimates of $6.04 by $7.44. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.52 billion. Everest Re Group had a return on equity of 4.51% and a net margin of 7.10%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $9.08 EPS.
Everest Re Group stock traded down $6.30 during midday trading on Thursday, hitting $253.29. The stock had a trading volume of 275,275 shares, compared to its average volume of 371,583. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.08. The company has a market cap of $10,628.96, a P/E ratio of 22.74, a P/E/G ratio of 1.20 and a beta of 0.52. Everest Re Group has a 52-week low of $208.81 and a 52-week high of $277.17.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Wednesday, March 7th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $5.20 dividend on an annualized basis and a yield of 2.05%. Everest Re Group’s dividend payout ratio is presently 46.68%.
In other Everest Re Group news, Director John A. Graf bought 2,285 shares of Everest Re Group stock in a transaction on Monday, January 8th. The shares were acquired at an average price of $219.07 per share, for a total transaction of $500,574.95. Following the completion of the purchase, the director now directly owns 5,550 shares in the company, valued at approximately $1,215,838.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roger M. Singer sold 1,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $244.58, for a total value of $244,580.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Boston Partners purchased a new stake in Everest Re Group in the fourth quarter worth $385,136,000. Vulcan Value Partners LLC increased its stake in Everest Re Group by 0.6% in the fourth quarter. Vulcan Value Partners LLC now owns 1,443,878 shares of the insurance provider’s stock worth $319,473,000 after purchasing an additional 8,517 shares during the period. JPMorgan Chase & Co. increased its stake in Everest Re Group by 22.0% in the third quarter. JPMorgan Chase & Co. now owns 714,377 shares of the insurance provider’s stock worth $159,219,000 after purchasing an additional 128,867 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Everest Re Group by 5.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 629,745 shares of the insurance provider’s stock worth $139,336,000 after purchasing an additional 29,728 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Everest Re Group by 58.2% during the third quarter. Janus Henderson Group PLC now owns 545,518 shares of the insurance provider’s stock valued at $124,591,000 after buying an additional 200,748 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.
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About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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