Morningstar Assigns “BBB” Credit Rating to Assurant (AIZ)
Assurant (NYSE:AIZ) has been given a “BBB” credit rating by analysts at Morningstar. The agency’s “BBB” rating suggests that the company is a moderate default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Assurant in a research note on Monday, July 28th. They now have a $69.00 price target on the stock. Separately, analysts at Sterne Agee reiterated a “neutral” rating on shares of Assurant in a research note on Thursday, July 17th. They now have a $67.00 price target on the stock, down previously from $74.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Assurant in a research note on Tuesday, July 1st. They now have a $73.00 price target on the stock, up previously from $66.00. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Assurant has an average rating of “Hold” and an average price target of $67.29.
Assurant (NYSE:AIZ) opened at 66.75 on Tuesday. Assurant has a 52-week low of $53.05 and a 52-week high of $69.71. The stock’s 50-day moving average is $65.23 and its 200-day moving average is $66.02. The company has a market cap of $4.765 billion and a price-to-earnings ratio of 9.58.
Assurant (NYSE:AIZ) last announced its earnings results on Wednesday, July 23rd. The company reported $1.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.58 by $0.04. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the company posted $1.53 earnings per share. Assurant’s revenue was up 16.5% compared to the same quarter last year. On average, analysts predict that Assurant will post $6.29 earnings per share for the current fiscal year.
Assurant, Inc (NYSE:AIZ) is a provider of specialized insurance products and related services in North America and select worldwide markets.
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