Brokerages expect Everest Re Group Ltd (NYSE:RE) to announce $2.09 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Everest Re Group’s earnings, with the lowest sales estimate coming in at $2.07 billion and the highest estimate coming in at $2.11 billion. Everest Re Group reported sales of $1.87 billion in the same quarter last year, which indicates a positive year over year growth rate of 11.8%. The company is scheduled to announce its next quarterly earnings results after the market closes on Monday, July 29th.
According to Zacks, analysts expect that Everest Re Group will report full-year sales of $8.26 billion for the current fiscal year, with estimates ranging from $8.17 billion to $8.44 billion. For the next financial year, analysts anticipate that the company will post sales of $9.03 billion, with estimates ranging from $8.76 billion to $9.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Everest Re Group.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, May 6th. The insurance provider reported $6.91 EPS for the quarter, beating the consensus estimate of $5.91 by $1.00. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Everest Re Group had a return on equity of 3.08% and a net margin of 3.19%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $5.34 EPS.
Several research firms have recently commented on RE. ValuEngine raised Yirendai from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. UBS Group raised their price target on Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Zacks Investment Research downgraded HEXO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Barclays set a $34.00 price objective on DCP Midstream and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Finally, Morgan Stanley set a $620.00 price objective on Intuitive Surgical and gave the company a “buy” rating in a research note on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Everest Re Group currently has a consensus rating of “Hold” and a consensus price target of $251.63.
Shares of RE traded up $4.00 during mid-day trading on Friday, hitting $259.52. The company’s stock had a trading volume of 208,461 shares, compared to its average volume of 295,028. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.37 and a quick ratio of 0.37. The business has a 50-day moving average of $252.41. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 55.81, a P/E/G ratio of 1.04 and a beta of 0.26. Everest Re Group has a 1-year low of $201.09 and a 1-year high of $260.51.
In other Everest Re Group news, Director John A. Weber sold 500 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $246.46, for a total transaction of $123,230.00. Following the completion of the transaction, the director now owns 6,499 shares of the company’s stock, valued at $1,601,743.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jonathan Zaffino sold 1,048 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $248.01, for a total value of $259,914.48. Following the transaction, the senior vice president now directly owns 9,617 shares of the company’s stock, valued at approximately $2,385,112.17. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund increased its position in Everest Re Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 10,447 shares of the insurance provider’s stock worth $2,256,000 after buying an additional 42 shares in the last quarter. Piedmont Investment Advisors Inc. increased its position in Everest Re Group by 2.4% during the first quarter. Piedmont Investment Advisors Inc. now owns 1,803 shares of the insurance provider’s stock worth $389,000 after buying an additional 43 shares in the last quarter. 6 Meridian increased its position in Everest Re Group by 2.0% during the second quarter. 6 Meridian now owns 2,267 shares of the insurance provider’s stock worth $560,000 after buying an additional 45 shares in the last quarter. ETF Managers Group LLC increased its position in Everest Re Group by 9.3% during the first quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock worth $122,000 after buying an additional 48 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Everest Re Group by 1.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,909 shares of the insurance provider’s stock worth $851,000 after buying an additional 51 shares in the last quarter. 91.65% of the stock is owned by institutional investors.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.
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