AmTrust Financial Services (AFSI) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS
AmTrust Financial Services (NASDAQ:AFSI) issued its quarterly earnings data on Wednesday. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.06, ARN reports. The company had revenue of $816.40 million for the quarter, compared to the consensus estimate of $583.90 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 76.9% on a year-over-year basis.
In other AmTrust Financial Services news, EVP Christopher Longo sold 9,780 shares of the stock on the open market in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $30.59, for a total transaction of $299,170.20. Following the transaction, the executive vice president now directly owns 82,109 shares of the company’s stock, valued at approximately $2,511,714. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
On the ratings front, analysts at Zacks upgraded shares of AmTrust Financial Services from a “neutral” rating to an “outperform” rating in a research note on Tuesday, December 24th. They now have a $36.30 price target on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $43.66.
AmTrust Financial Services (NASDAQ:AFSI) opened at 33.96 on Wednesday. AmTrust Financial Services has a 52 week low of $26.2364 and a 52 week high of $42.64. The stock has a 50-day moving average of $32.91 and a 200-day moving average of $36.65. The company has a P/E ratio of 9.08.
The company also recently announced a quarterly dividend, which is scheduled for Monday, April 14th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.36%.
Amtrust Financial Services, Inc is a holding company. The Company is a multinational specialty property and casualty insurer focused on generating consistent underwriting profits.
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.