Zacks Upgrades Fidelity & Guaranty Life to Outperform (FGL)
Fidelity & Guaranty Life (NYSE:FGL) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday. The firm currently has a $24.80 price objective on the stock. Zacks‘s price target would indicate a potential upside of 14.13% from the company’s current price.
A number of other firms have also recently commented on FGL. Analysts at Sandler O’Neill downgraded shares of Fidelity & Guaranty Life from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Fidelity & Guaranty Life in a research note on Tuesday, July 1st. They now have a $21.00 price target on the stock, down previously from $25.00. Finally, analysts at Credit Suisse downgraded shares of Fidelity & Guaranty Life from an “outperform” rating to a “neutral” rating in a research note on Friday, May 16th. They now have a $24.00 price target on the stock, up previously from $22.00. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.56.
Shares of Fidelity & Guaranty Life (NYSE:FGL) traded down 0.50% during mid-day trading on Friday, hitting $21.82. 44,969 shares of the company’s stock traded hands. Fidelity & Guaranty Life has a one year low of $18.12 and a one year high of $24.52. The stock has a 50-day moving average of $22.79 and a 200-day moving average of $21.90.
Fidelity & Guaranty Life (NYSE:FGL) last announced its earnings results on Wednesday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.19. The company had revenue of $367.90 million for the quarter, compared to the consensus estimate of $225.52 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was up 31.9% on a year-over-year basis. On average, analysts predict that Fidelity & Guaranty Life will post $2.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 1st. Investors of record on Monday, August 18th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, August 14th.
Fidelity & Guaranty Life is a holding company. The Company offers various types of fixed annuities and life insurance products through its insurance subsidiaries: Fidelity & Guaranty Life Insurance Company (NYSE:FGL) and Fidelity & Guaranty Life Insurance Company of New York (FGL NY Insurance).
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