ProAssurance (NYSE:PRA) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

ProAssurance (NYSE:PRA) announced its quarterly earnings data on Monday. The insurance provider reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04, Briefing.com reports. The company had revenue of $284.97 million during the quarter, compared to analyst estimates of $233.62 million. ProAssurance had a negative return on equity of 0.53% and a negative net margin of 3.39%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS.

ProAssurance Stock Performance

ProAssurance stock opened at $15.17 on Wednesday. ProAssurance has a 1-year low of $11.76 and a 1-year high of $19.38. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $773.20 million, a PE ratio of -20.50 and a beta of 0.21. The firm’s 50 day simple moving average is $12.89 and its 200 day simple moving average is $13.51.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRA. Piper Sandler lowered their price target on shares of ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, March 4th. JMP Securities reissued a “market outperform” rating and set a $22.00 target price on shares of ProAssurance in a report on Monday, April 15th. Finally, Truist Financial cut their price target on ProAssurance from $15.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.00.

ProAssurance Company Profile

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.