International General Insurance (NASDAQ:IGIC) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

International General Insurance (NASDAQ:IGIC) released its quarterly earnings data on Tuesday. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01, Zacks reports. The business had revenue of $135.20 million during the quarter, compared to analyst estimates of $136.20 million. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%.

International General Insurance Stock Performance

Shares of IGIC stock traded down $0.23 during trading hours on Thursday, reaching $26.35. The company had a trading volume of 28,740 shares, compared to its average volume of 82,821. The business has a fifty day moving average price of $24.89 and a 200-day moving average price of $22.25. International General Insurance has a one year low of $11.51 and a one year high of $27.76. The firm has a market cap of $1.21 billion, a PE ratio of 8.55 and a beta of 0.27.

Analyst Upgrades and Downgrades

IGIC has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on shares of International General Insurance from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank of Canada lifted their target price on International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

International General Insurance Company Profile

International General Insurance Holdings Ltd. engages in the provision of specialty insurance and reinsurance solutions worldwide. The company operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. It is involved in underwriting a portfolio of specialty risks, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, motor, marine liability, contingency, marine, treaty, and casualty insurance and reinsurance.