Amtrust Financial Services Lifted to Outperform at Zacks (AFSI)
Amtrust Financial Services (NASDAQ:AFSI) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Wednesday. The firm currently has a $49.10 price target on the stock. Zacks‘s price objective suggests a potential upside of 8.97% from the stock’s previous close.
In other Amtrust Financial Services news, Insider Max G. Caviet unloaded 6,477 shares of Amtrust Financial Services stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $44.10, for a total value of $285,635.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on AFSI. Analysts at FBR Capital Markets raised their price target on shares of Amtrust Financial Services from $50.00 to $56.00 in a research note on Monday, August 11th. They now have an “outperform” rating on the stock. Separately, analysts at JMP Securities raised their price target on shares of Amtrust Financial Services to $50.00 in a research note on Friday, August 8th. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Amtrust Financial Services from $44.00 to $48.00 in a research note on Friday, August 8th. They now have a “market perform” rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $51.02.
Shares of Amtrust Financial Services (NASDAQ:AFSI) traded down 2.29% on Wednesday, hitting $44.03. 347,914 shares of the company’s stock traded hands. Amtrust Financial Services has a 1-year low of $27.90 and a 1-year high of $47.10. The stock has a 50-day moving average of $42.86 and a 200-day moving average of $40.40. The company has a market cap of $3.329 billion and a P/E ratio of 10.59.
Amtrust Financial Services (NASDAQ:AFSI) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.00 by $0.33. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $824.40 million. During the same quarter last year, the company posted $0.86 earnings per share. Amtrust Financial Services’s revenue was up 55.6% compared to the same quarter last year. On average, analysts predict that Amtrust Financial Services will post $4.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, September 29th.
Amtrust Financial Services, Inc is a holding company. The Company is a multinational specialty property and casualty insurer focused on generating consistent underwriting profits.
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