Brown & Brown (BRO) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Brown & Brown (NYSE:BRO) issued its quarterly earnings data on Tuesday. The company reported $0.32 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.03, Stock Ratings Network reports. The company had revenue of $343.17 million for the quarter, compared to the consensus estimate of $348.20 million. During the same quarter last year, the company posted $0.29 earnings per share. Brown & Brown’s revenue was up 13.3% compared to the same quarter last year.
BRO has been the subject of a number of recent research reports. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Brown & Brown in a research note to investors on Friday, January 17th. On a related note, analysts at Barclays upgraded shares of Brown & Brown from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, January 7th. They now have a $36.00 price target on the stock, up previously from $34.00. Finally, analysts at William Blair downgraded shares of Brown & Brown from a “market perform” rating to an “underperform” rating in a research note to investors on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $36.54.
Shares of Brown & Brown (NYSE:BRO) opened at 30.68 on Tuesday. Brown & Brown has a 1-year low of $27.76 and a 1-year high of $35.13. The stock has a 50-day moving average of $31.26 and a 200-day moving average of $32.05. The company has a market cap of $4.462 billion and a P/E ratio of 21.65.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, February 19th. Shareholders of record on Wednesday, February 5th will be paid a dividend of 0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, February 3rd.
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company.
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