ProAssurance Corp. Stock Rating Lowered by Zacks (PRA)
ProAssurance Corp. (NYSE:PRA) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Monday, AnalystRatingsNetwork.com reports. They currently have a $42.00 price objective on the stock. Zacks‘ price target points to a potential downside of 6.79% from the company’s current price.
ProAssurance Corp. (NYSE:PRA) traded down 1.81% during mid-day trading on Monday, hitting $45.06. 767,106 shares of the company’s stock traded hands. ProAssurance Corp. has a 52 week low of $41.80 and a 52 week high of $55.44. The stock’s 50-day moving average is $47.4 and its 200-day moving average is $49.69. The company has a market cap of $2.787 billion and a P/E ratio of 8.76.
ProAssurance Corp. (NYSE:PRA) last announced its earnings results on Monday, August 5th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by $0.15. The company had revenue of $170.80 million for the quarter, compared to the consensus estimate of $166.53 million. During the same quarter in the previous year, the company posted $1.92 earnings per share. On average, analysts predict that ProAssurance Corp. will post $3.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Sunday, November 10th. Shareholders of record on Friday, September 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, September 25th.
Several other analysts have also recently commented on the stock. Analysts at Keefe, Bruyette & Woods reiterated a “hold” rating on shares of ProAssurance Corp. (NYSE:PRA) in a research note to investors on Monday, September 9th. They now have a $54.00 price target on the stock. Separately, analysts at Sandler O’Neill cut their price target on shares of ProAssurance Corp. (NYSE:PRA) from $55.00 to $49.00 in a research note to investors on Monday, September 9th. They now have a “hold” rating on the stock. Finally, analysts at SunTrust downgraded shares of ProAssurance Corp. (NYSE:PRA) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, September 5th. They now have a $52.00 price target on the stock, down previously from $58.00. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. ProAssurance Corp. presently has a consensus rating of “Hold” and a consensus target price of $52.17.
ProAssurance Corporation is a holding company for property and casualty insurance companies focused on professional liability insurance.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.