Arthur J. Gallagher & Co. (AJG) Announces Quarterly Earnings, Misses Estimates By $0.05 EPS
Arthur J. Gallagher & Co. (NYSE:AJG) announced its earnings results on Wednesday. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.05, StockRatingsNetwork.com reports. The company had revenue of $835.80 million for the quarter, compared to the consensus estimate of $744.50 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 28.5% on a year-over-year basis.
AJG has been the subject of a number of recent research reports. Analysts at Raymond James raised their price target on shares of Arthur J. Gallagher & Co. from $46.00 to $47.00 in a research note to investors on Thursday, September 5th. They now have an “outperform” rating on the stock. On a related note, analysts at BMO Capital Markets initiated coverage on shares of Arthur J. Gallagher & Co. in a research note to investors on Tuesday, September 3rd. They set an “outperform” rating and a $47.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Arthur J. Gallagher & Co. from $47.00 to $49.00 in a research note to investors on Tuesday, August 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Arthur J. Gallagher & Co. currently has a consensus rating of “Buy” and an average price target of $45.75.
Arthur J. Gallagher & Co. (NYSE:AJG) opened at 47.50 on Wednesday. Arthur J. Gallagher & Co. has a one year low of $34.20 and a one year high of $45.89. The stock has a 50-day moving average of $43.44 and a 200-day moving average of $42.86. The company has a market cap of $6.066 billion and a P/E ratio of 26.26.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 20th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Monday, December 2nd.
Arthur J. Gallagher & Co, along with its subsidiaries, provides insurance brokerage and third-party claims settlement and administration services to entities in the United States and abroad.
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