W.R. Berkley Corp. Downgraded by Macquarie to “Neutral” (WRB)
W.R. Berkley Corp. (NYSE:WRB) was downgraded by research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a report released on Wednesday, TheFlyOnTheWall.com reports.
W.R. Berkley Corp. (NYSE:WRB) traded up 0.53% on Wednesday, hitting $43.60. 101,410 shares of the company’s stock traded hands. W.R. Berkley Corp. has a 52-week low of $37.29 and a 52-week high of $45.59. The stock’s 50-day moving average is $42.21 and its 200-day moving average is $42.43. The company has a market cap of $5.900 billion and a price-to-earnings ratio of 12.35.
W.R. Berkley Corp. (NYSE:WRB) last posted its quarterly earnings results on Monday, July 22nd. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.02. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts predict that W.R. Berkley Corp. will post $2.91 earnings per share for the current fiscal year.
A number of other firms have also recently commented on WRB. Analysts at Zacks downgraded shares of W.R. Berkley Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, September 13th. They now have a $44.00 price target on the stock. Separately, analysts at Compass Point raised their price target on shares of W.R. Berkley Corp. from $43.00 to $44.00 in a research note to investors on Wednesday, July 24th. They now have a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.00.
W. R. Berkley Corporation (NYSE:WRB) is an insurance holding company.
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