Wall Street analysts expect Navigators Group Inc (NASDAQ:NAVG) to announce sales of $344.53 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Navigators Group’s earnings, with the lowest sales estimate coming in at $344.30 million and the highest estimate coming in at $344.75 million. Navigators Group reported sales of $308.65 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.6%. The company is expected to report its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that Navigators Group will report full-year sales of $344.53 million for the current financial year, with estimates ranging from $1.40 billion to $1.42 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.47 billion per share, with estimates ranging from $1.45 billion to $1.49 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Navigators Group.
Navigators Group (NASDAQ:NAVG) last announced its quarterly earnings data on Thursday, February 15th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.22. Navigators Group had a return on equity of 2.85% and a net margin of 3.08%. The business had revenue of $305.10 million during the quarter, compared to analysts’ expectations of $314.59 million. During the same period in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year.
NAVG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut Navigators Group from a “market perform” rating to an “underperform” rating and set a $45.00 price objective for the company. in a research note on Wednesday, December 6th. Zacks Investment Research cut Navigators Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. ValuEngine cut Navigators Group from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Sandler O’Neill reaffirmed a “hold” rating and set a $60.00 price objective on shares of Navigators Group in a research note on Friday, February 16th. Finally, BidaskClub raised Navigators Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 17th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $57.00.
A number of large investors have recently bought and sold shares of NAVG. Sei Investments Co. grew its stake in Navigators Group by 2,600.0% in the third quarter. Sei Investments Co. now owns 2,268 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 2,184 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Navigators Group in the third quarter valued at about $204,000. Bank of Montreal Can grew its stake in Navigators Group by 30.5% in the fourth quarter. Bank of Montreal Can now owns 4,585 shares of the insurance provider’s stock valued at $223,000 after acquiring an additional 1,071 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Navigators Group in the third quarter valued at about $364,000. Finally, Teacher Retirement System of Texas acquired a new position in Navigators Group in the fourth quarter valued at about $393,000. 74.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Navigators Group (NASDAQ NAVG) traded up $0.80 during trading on Wednesday, hitting $58.10. The company had a trading volume of 69,866 shares, compared to its average volume of 112,818. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.22. Navigators Group has a twelve month low of $45.80 and a twelve month high of $60.35. The firm has a market capitalization of $1,692.15, a PE ratio of 43.68 and a beta of 0.57.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 2nd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.48%. This is a boost from Navigators Group’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, March 1st. Navigators Group’s payout ratio is presently 21.05%.
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About Navigators Group
The Navigators Group, Inc is an insurance holding company. The Company is an international insurance company focused on marine insurance. The Company’s segments include U.S. Insurance, International Insurance (Int’l Insurance), Global Reinsurance (GlobalRe) and Corporate. The Company’s Property and Casualty (P&C) insurance business primarily offers general liability coverage, and umbrella and excess liability coverage to commercial enterprises through its U.S.
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