Brown & Brown Given New $37.00 Price Target at Keefe, Bruyette & Woods (BRO)
Equities research analysts at Keefe, Bruyette & Woods boosted their target price on shares of Brown & Brown (NYSE:BRO) from $36.00 to $37.00 in a research note issued to investors on Wednesday, American Banking News.com reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 13.53% from the stock’s previous close.
A number of other analysts have also recently weighed in on BRO. Analysts at Stephens downgraded shares of Brown & Brown from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday. Separately, analysts at Wells Fargo & Co. reiterated a “buy” rating on shares of Brown & Brown in a research note to investors on Wednesday, October 2nd. They now have a $40.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Brown & Brown from $30.00 to $34.00 in a research note to investors on Wednesday, October 2nd. They now have an “equal weight” rating on the stock. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Brown & Brown currently has an average rating of “Buy” and an average target price of $35.61.
Brown & Brown (NYSE:BRO) traded up 0.80% on Wednesday, hitting $32.59. 1,527,739 shares of the company’s stock traded hands. Brown & Brown has a one year low of $24.88 and a one year high of $35.13. The stock’s 50-day moving average is $32.24 and its 200-day moving average is $32.19. The company has a market cap of $4.722 billion and a price-to-earnings ratio of 23.09.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.40 by $0.01. The company had revenue of $359.31 million for the quarter, compared to the consensus estimate of $348.85 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. On average, analysts predict that Brown & Brown will post $1.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%.
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company.
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